This paper examines how commercial banks reacted to the changes in monetary tools in mid-1994, when The Federal Reserve Bank altered its policy by implicitly targeting the Federal Funds Rate (FFR). Prior to 1994, the FFR had a lagged effect on the prime rate that charged commercial banks their...

This study develops and estimates an econometric model of choice among residential communities. The econometric method employed is maximum-likelihood estimation of a multinomial logit. This makes it possible to examine the effects of local public services and other community attributes on the...

In the November 1991 issue of The Review of Economics and Statistics, Cletus C. Coughlin, Joseph V. Terza, and Vachira Arromdee estimated conditional logit models of the factors affecting the locational choices of foreign direct investors in the manufacturing sector within the United States....