{"id":160,"date":"1984-09-01T01:10:11","date_gmt":"1984-08-31T22:10:11","guid":{"rendered":"http:\/\/hardouvelis.gr\/?p=160"},"modified":"2023-08-02T17:28:12","modified_gmt":"2023-08-02T14:28:12","slug":"market-perceptions-federal-reserve-policy-weekly-monetary-announcements","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/market-perceptions-federal-reserve-policy-weekly-monetary-announcements\/","title":{"rendered":"Market Perceptions of Federal Reserve Policy, and the Weekly Monetary Announcements"},"content":{"rendered":"<p><strong>Market Perceptions of Federal Reserve Policy, and the Weekly Monetary Announcements<\/strong><br \/>\nAuth.: G. Hardouvelis<br \/>\n<em>Journal of Monetary Economics, September 1984, 14: 225-240<\/em><\/p>\n<p>Abstract<\/p>\n<p>In October 1979 the Federal Reserve altered its operating procedures emphasizing control of the<br \/>\ngrowth rate of the money stock. Was the Fed able to gain credibility in the market? The paper<br \/>\ninvestigates this question by examining the reactions of spot and expected future exchange rates,<br \/>\nforeign interest rates, and long-run doxreestic forward interest rates to the weeklv Federal Reserve<br \/>\nannouncements of M-l. both before arrd after October 1979. The empirical evidence points out<br \/>\nthat the Fed did gain credibility, but was unable to establish full credibilitv. The market reactions<br \/>\nare consistent with the hypothesis that market participants attached a positive probability to the<br \/>\nevent that the Fed may at some point in the future abandon its money stock targets.<\/p>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2017\/11\/JME_Sept_198414_225-40.pdf\">Download Market Perceptions of Federal Reserve Policy, and the Weekly Monetary Announcements<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Market Perceptions of Federal Reserve Policy, and the Weekly Monetary Announcements Auth.: G. Hardouvelis Journal of Monetary Economics, September 1984,<\/p>\n","protected":false},"author":1,"featured_media":4399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,5],"tags":[3251],"yst_prominent_words":[511,576,582,495,178,592,570,564,586,504,584,580,572,563,578,566,590,568,588,574],"class_list":["post-160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-academic-publications","category-publications-in-refereed-academic-journals","tag-academic-publications"],"acf":[],"_links":{"self":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/comments?post=160"}],"version-history":[{"count":2,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/160\/revisions"}],"predecessor-version":[{"id":1221,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/160\/revisions\/1221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media\/4399"}],"wp:attachment":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media?parent=160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=160"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}