The effects of anticipated and unanticipated federal funds target rate changes on domestic interest rates: international evidence

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The_effects_of_anticipated_and_unanticipated_federal_funds_target_rate_changes_on_domestic_interest_rates_international_evidence.pdf (83.27 KB)

Date

2010

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Source Title

International Review of Applied Financial Issues and Economics

Print ISSN

9210-1737

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Publisher

S.E.I.F at Paris

Volume

2

Issue

2

Pages

328 - 340

Language

English

Type

Article

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Abstract

This paper assesses the effects of anticipated and unanticipated United States Federal Funds target rate changes on the domestic interest rates of a set of countries for the period from June 1989 to August 2008. The empirical evidence provided here suggests that i. unanticipated changes have a greater effect than anticipated changes; and ii. evidence from developed markets is stronger than that from developing/emerging markets.

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Keywords

Interest rates, International transmission mechanism, Fed Funds target rates, Monetary policy

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http://hdl.handle.net/11693/49392

Published Version (Please cite this version)

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Scholarly Publications - Economics