The information content of discount rate announcements: What is behind the announcement effect?

The Federal funds rate and the channels of monetary transmission

1992 • 2,837 citations

A Program for Monetary Stability

1961 • 1,266 citations

The effect of changes in the federal funds rate target on market interest rates in the 1970s

1989 • 623 citations

Advanced Econometric Methods

1984 • 495 citations

Interest rates and the conduct of monetary policy

1991 • 448 citations

Federal Reserve interest rate targeting, rational expectations, and the term structure

1995 • 417 citations

Federal Reserve interest rate targeting, rational expectations, and the term structure

1995 • 374 citations

Economic Activity and the Short-Term Credit Markets: An Analysis of Prices and Quantities

1993 • 170 citations

Asset Returns, Discount Rate Changes, and Market Efficiency

1985 • 168 citations

Public Interpretation of Federal Reserve Discount Rate Changes: Evidence on the "Announcement Effect"

1970 • 168 citations

An interest rate-based indicator of monetary policy

1988 • 150 citations

The Information Content of Discount Rate Announcements and Their Effect on Market Interest Rates

1988 • 120 citations

Estimating the Open Market Desk's Daily Reaction Function

1993 • 108 citations

Resolving the Liquidity Effect

1995 • 103 citations

Resolving the Liquidity Effect

1995 • 70 citations

The Borrowed-Reserves Operating Procedures: Theory and Evidence

1988 • 64 citations

THE DETERMINANTS OF MEMBER‐BANK BORROWING: AN ECONOMETRIC STUDY*

1966 • 64 citations

The impact of discount rate changes on market interest rates

1984 • 62 citations

Recent Developments in Discount Window Policy

1994 • 51 citations

Asset Returns, Discount Rate Changes, and Market Efficiency

1985 • 47 citations

Does the Fed's New Policy of Immediate Disclosure Affect the Market?

1996 • 36 citations

Policy Robustness: Specification and Simulation of a Monthly Money Market Model

1982 • 31 citations

Discount Rate Changes and Announcement Effects

1977 • 30 citations

Discount rate changes and the foreign exchange market

1984 • 30 citations

The effect of unanticipated money on the money and foreign exchange markets

1989 • 27 citations

The Information Content of the Federal Funds Rate: Is it Unique?

1995 • 26 citations

Effects of Changes in the Discount Rate on the Foreign Exchange Value of the Dollar: 1973 to 1978

1981 • 24 citations

Discount rate policy under alternative operating procedures: An empirical investigation

1992 • 24 citations

The Response of Market Interest Rates to Discount Rate Changes

1992 • 24 citations

RELUCTANCE ELASTICITY, LEAST COST, AND MEMBER‐BANK BORROWING: A SUGGESTED INTEGRATION

1960 • 23 citations

The Discount Rate and Market Interest Rates: Theory and Evidence

1986 • 22 citations

Why Do T-Bill Rates React to Discount Rate Changes?

1994 • 21 citations

The Discount Rate, Interest Rates and Foreign Exchange Rates: An Analysis with Daily Data

1985 • 16 citations

Did Discount Rate Changes Affect the Foreign Exchange Value of the Dollar During 1978?

1979 • 15 citations

RELUCTANCE AND MEMBER‐BANK BORROWING: ADDITIONAL EVIDENCE

1967 • 13 citations

Federal reserve policymaking: An overview and analysis of the policy process a comment

1989 • 9 citations

The Information Content of Discount Rate Announcements Revisited

1993 • 9 citations

Discount Rate Policy Under Alternative Operating Regimes: An Empirical Investigation

1988 • 8 citations

Identifying monetary policy with a model of the federal funds rate

1993 • 3 citations