Federal funds rate volatility
An examination of the role that monetary policy easings and reduced reserve requirements played in the increased federal funds volatility of late 1990 and early 1991.
The demand for reserves and interest rate volatility before and after EMU : an application to the Portuguese money market
We use Portuguese Money Market data to analyse the effect of the introduction of the Single Monetary Policy minimum reserve system on money market interest rate volatility. The spread between the overnight interest rate and the mid-point of the corridor of interest rate standing facilities is modelled trough GARCH models. The spread volatility shows a different behaviour before and after the EMU, consistent with increased flexibility under the new rules. JEL classification: E43; E52; G21
Banking and finance in Japan : an introduction to the Tokyo market
List of tables and figures. Preface. Acknowledgements. Introduction. Part 1: Financial Structure and Deregulation 1. Historical Background 2. Financial Structure and the Flow of Funds 3. Financial Products, Interest Rates and Financial Deregulation. Part 2 Financial Markets 4. Short-term Money Markets 5. Foreign Currency and Euroyen Markets 6. Securities Markets. Part 3: Financial Institutions. 7. Private Depository Institutions 8. Private non-depository Financial Institutions 9. Government Financial Institutions 10. Foreign Financial Institutions 11. Interbank Clearing Systems. Part 4: Monetary Authorities and Monetary Policy 12. Monetary Authorities. 13. Monetary Policy. Future Outlook. Appendices. Bibliography. Index.