Mizrach, Bruce Marshall (contributor); … - 2004 - [Elektronische Ressource]
permanently excluding a fraction of households from financial markets. When markets are segmented, monetary policy has a direct … affect them only indirectly. Data on bond returns strongly favor the segmented markets model over the full participation … model. For maturities up to 2 years, the segmented markets model is able to replicate the sign and the size of the impulse …