THE FOUNDING OF THE FED AND THE BEHAVIOR OF INTEREST-RATES - WHAT CANBE LEARNED FROM SMALL SAMPLES

Authors
MANKIW NG MIRON JA WEIL DN
Citation
Ng. Mankiw et al., THE FOUNDING OF THE FED AND THE BEHAVIOR OF INTEREST-RATES - WHAT CANBE LEARNED FROM SMALL SAMPLES, Journal of monetary economics, 34(3), 1994, pp. 555-559
Citations number
3
Categorie Soggetti
Business Finance",Economics
Journal title
Journal of monetary economics → ACNP
ISSN journal
03043932
Volume
34
Issue
3
Year of publication
1994
Pages
555 - 559
Database
ISI
SICI code
0304-3932(1994)34:3<555:TFOTFA>2.0.ZU;2-S
Abstract
We take issue with Angelini's (1994) claim that the founding of the Fe deral Reserve was not responsible for a change in the stochastic proce ss followed by short-term interest rates. We argue that Angelini's fai lure to reject the null hypothesis of no regime change around the date of the founding of the Fed is due to the low power of his test.