{"id":206,"date":"1985-12-01T17:58:36","date_gmt":"1985-12-01T15:58:36","guid":{"rendered":"http:\/\/hardouvelis.gr\/?p=206"},"modified":"2023-08-02T17:29:42","modified_gmt":"2023-08-02T14:29:42","slug":"exchange-rates-interest-rates-money-stock-announcements-theoretical-exposition","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/exchange-rates-interest-rates-money-stock-announcements-theoretical-exposition\/","title":{"rendered":"Exchange Rates, Interest Rates, and Money Stock Announcements: A Theoretical Exposition"},"content":{"rendered":"<p><strong>Exchange Rates, Interest Rates, and Money Stock Announcements: A Theoretical Exposition<\/strong><br \/>\nAuthor: G. Hardouvelis<br \/>\n<em>Journal of International Money and Finance, December 1985, 4: 443-454.<\/em><\/p>\n<p>Abstract:<\/p>\n<p>When the Federal Reserve announces a larger than anticipated weekly<br \/>\nlevel of the US money stock (Ml) the dollar appreciates and short-term<br \/>\ninterest rates increase because of an expected liquidity effect, but longterm<br \/>\ninterest rates and particularly long-run forward interest rates<br \/>\nincrease because of an expected inflation effect. The two effects are not<br \/>\nmutually exclusive but coexist when market participants are not<br \/>\ncompletely sure of the Fed\u2019s policy rule, and thus react in a weighted<br \/>\naverage manner with weights that reflect subjective probabilities about<br \/>\ndifferent Federal Reserve money growth policies.<\/p>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2017\/11\/JIMF_19854_443-54.pdf\">Download Exchange Rates, Interest Rates, and Money Stock Announcements: A Theoretical Exposition pdf<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Exchange Rates, Interest Rates, and Money Stock Announcements: A Theoretical Exposition Author: G. Hardouvelis Journal of International Money and Finance,<\/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":[506,492,721,501,486,495,489,370,497,504,499,372,507,493,369,509,503,371,488,368],"class_list":["post-206","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\/206","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=206"}],"version-history":[{"count":2,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/206\/revisions"}],"predecessor-version":[{"id":1226,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/206\/revisions\/1226"}],"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=206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=206"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}