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Stock prices, firm size, and changes in the federal funds rate target

✍ Scribed by Hui Guo


Book ID
113871446
Publisher
Elsevier Science
Year
2004
Tongue
English
Weight
143 KB
Volume
44
Category
Article
ISSN
1062-9769

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## Abstract We identify two major changes in the dynamics of the federal funds rate in the 1990s. We model the desired rate in a two‐regime setting, one when the Fed makes no change and the other when the Fed is moving the desired rate to a new level. We find that the 1990s saw a longer duration in