Similar Search Results

The effects of interest rates and taxes on new car prices

Doyle, Maura P. - Federal Reserve Board (Board of Governors of the … - 1997

Utilizing the Consumer Expenditure Survey and state-level variation in taxes, this study finds that prices for most … models of new cars shift by more than the amount of a sales tax. The evidence of an overshifting of prices offers support for …-tax interest rate have offsetting effects on new car prices; a one percentage point increase in the after-tax real interest rate …

Persistent link: https://www.econbiz.de/10005393653

Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero

Orphanides, Athanasios; Wieland, Volker - Federal Reserve Board (Board of Governors of the … - 1998

This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound constraint on nominal interest rates. We find that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S....

Persistent link: https://www.econbiz.de/10005393669

Asset prices and the conduct of monetary policy : proceedings of the Monetary Affairs Workshop

Porter, Richard D. - Federal Reserve Board (Board of Governors of the … - 1990

Persistent link: https://www.econbiz.de/10005721001

Sticky inflation and interest rate rules with auction prices

Muehlen, Peter von zur - Federal Reserve Board (Board of Governors of the … - 1990

Persistent link: https://www.econbiz.de/10005721127

Interest rate policies for price stability

Brayton, Flint; Tinsley, P.A. - Federal Reserve Board (Board of Governors of the … - 1993

Persistent link: https://www.econbiz.de/10005721207

Inflation Expectations and Recovery from the Depression in 1933: Evidence from the Narrative Record

Jalil, Andrew; Rua, Gisela - Federal Reserve Board (Board of Governors of the … - 2015

This paper uses the historical narrative record to determine whether inflation expectations shifted during the second quarter of 1933, precisely as the recovery from the Great Depression took hold. First, by examining the historical news record and the forecasts of contemporary business...

Persistent link: https://www.econbiz.de/10011273691

Monetary policy and the behavior of long-term real interest rates

Fuhrer, Jeff; Moore, George - Federal Reserve Board (Board of Governors of the … - 1993

Persistent link: https://www.econbiz.de/10005513000

Linear cointegration of nonlinear time series with an application to interest rate dynamics

Jones, Barry E.; Nesmith, Travis D. - Federal Reserve Board (Board of Governors of the … - 2006

We derive a definition of linear cointegration for nonlinear stochastic processes using a martingale representation theorem. The result shows that stationary linear cointegrations can exhibit nonlinear dynamics, in contrast with the normal assumption of linearity. We propose a sequential...

Persistent link: https://www.econbiz.de/10005513026

Cracking the conundrum

Backus, David; Wright, Jonathan H. - Federal Reserve Board (Board of Governors of the … - 2007

From 2004 to 2006, the FOMC raised the target federal funds rate by 4.25 percentage points, yet long-maturity yields and forward rates fell. We consider several possible explanations for this "conundrum." The most likely, in our view, is a fall in the term premium, probably associated with some...

Persistent link: https://www.econbiz.de/10005513067

An arbitrage-free three-factor term structure model and the recent behavior of long-term yields and distant-horizon forward rates

Kim, Don H.; Wright, Jonathan H. - Federal Reserve Board (Board of Governors of the … - 2005

This paper reviews a simple three-factor arbitrage-free term structure model estimated by Federal Reserve Board staff and reports results obtained from fitting this model to U.S. Treasury yields since 1990. The model ascribes a large portion of the decline in long-term yields and distant-horizon...

Persistent link: https://www.econbiz.de/10005513092