Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
9549389 | Economics Letters | 2005 | 5 Pages |
Abstract
This note shows that the Federal funds rate is consistent with a nonlinear, three-regime threshold process in which temporary (permanent) innovations dominate in the two outer (middle) regimes. This nonlinear process is consistent with a stabilizing force for interest rates.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Philip A. Shively,