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

Date
2010
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Source Title
International Review of Applied Financial Issues and Economics
Print ISSN
9210-1737
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S.E.I.F at Paris
Volume
2
Issue
2
Pages
328 - 340
Language
English
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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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Published Version (Please cite this version)