Results 91 - 120 of 442 for PRIME
Effects of Interest on Demand Deposits: Implications of Compensating Balances - Review
Legislation is being considered which would allow depository financial institutions throughout the nation to offer to households interest-paying checking accounts, more popularly known as NOW (Negotiable Order of Withdrawal) accounts. Bankers, in general, are concerned about the effects on earnings of such a regulatory change. Several studies of NOW accounts, however, suggest that this concern may be unjustified, as only small earnings effects have been detected in areas where NOW accounts are currently permitted.
How Do Local Labor Markets Affect Retirement? - Review
The biggest effect of a higher local unemployment rate on older workers is to raise their propensity to stay in their current job. Older workers have fewer voluntary transitions to new jobs when the unemployment rate rises, but they especially have fewer voluntary transitions out of the labor force. Thus, the direct effect of job loss in inducing earlier retirement during recessions is outweighed by retirement delays among those with jobs.
research.stlouisfed.org/.../review/2017/07/05/how-do-local-labor-markets-affect-retirement
Turbulent Years for U.S. Banks: 2000-20 - Review
The first 20 years of the twenty-first century have presented U.S. banks with three recessions, long periods of very low interest rates, and increased regulation. The number of commercial banks operating in the United States declined by 51 percent during this period.
research.stlouisfed.org/publications/review/2022/05/13/turbulent-years-for-u-s-banks-2000-20
The Termination of Subprime Hybrid and Fixed Rate Mortgages - Working Paper 2006-042
Adjustable rate and hybrid loans have been a large and important component of subprime lending in the mortgage market. While maintaining the familiar 30-year term the typical adjustable rate loan in subprime is designed as a hybrid of fixed and adjustable characteristics. In its most prevalent form, the first two years are typically fixed and the remaining 28 years adjustable. Perhaps not surprisingly, using a competing risks proportional hazard framework that also accounts for unobserved heterogeneity, hybrid loans are sensitive to rising interest rates and tend to temporarily terminate at much higher rates when the loan transforms into an adjustable rate. However, these terminations are dominated by prepayments not defaults.
The Discount Rate and Market Interest Rates: Theory and Evidence - Review
Daniel L. Thornton discusses the theoretical links between the Federal Reserve’s discount rate and market interest rates and presents some empirical evidence on the extent of this link. He finds that, both in theory and practice, the direct relationship between the discount rate and money market rates is extremely weak.
research.stlouisfed.org/.../08/01/the-discount-rate-and-market-interest-rates-theory-and-evidence/
Inflation Risk and Optimal Monetary Policy - Working Paper 2006-035
This paper shows that the optimal monetary policies recommended by New Keynesian models still imply a large amount of inflation risk. We calculate the term structure of inflation uncertainty in New Keynesian models when the monetary authority adopts the optimal policy. When the monetary policy rules are modified to include some weight on a price path, the economy achieves equilibria with substantially lower long-run inflation risk. With either sticky prices or sticky wages, a price path target reduces the variance of inflation by an order of magnitude more than it increases the variability of the output gap.
Political Pressure on the Bank of Japan: Interference or Accountability? - Economic Synopses
Markets have come to believe that the Bank of Japan can and will raise Japan’s inflation rate to meet its new target.
research.stlouisfed.org/.../political-pressure-on-the-bank-of-japan-interference-or-accountability
Changes in the Mortgage Market Since the Crisis - Economic Synopses
It appears that mortgage origination and securitization is currently “in limbo”: Private securitization has all but disappeared and is being absorbed by government- sponsored enterprises.
research.stlouisfed.org/.../2011/08/30/changes-in-the-mortgage-market-since-the-crisis
Mortality Rates and the Business Cycle - Economic Synopses
Mortality rates no longer rise sharply in recessions.
research.stlouisfed.org/.../economic-synopses/2010/12/09/mortality-rates-and-the-business-cycle
A Monetarist Model for Economic Stabilization: Review and Update - Review
Keith M. Carlson reviews the development of the monetarist econometric model that he and Andy published in the April 1970 Review article and presents an updated version, comparing it with the original model.
research.stlouisfed.org/.../10/01/a-monetarist-model-for-economic-stabilization-review-and-update/
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Norman N. Bowsher 10 items
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