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Full-Text Articles in Social and Behavioral Sciences
An Analysis Of The Behavior Of The Risk Premium In The German Deutschemark Forward Market: A Comparison Of Pre- And Post-German Reunification Of 1990 Exchange Rates, Paul Newton
Masters Theses & Specialist Projects
The German reunification of 1990 and the methods of economic integration exerted considerable pressure on both the German economy and the deutschemark. This thesis addresses the issue that the reunification undermined the stability of the deutschemark, detectable through a change in the implied risk premium. Emphasis is placed on the forward deutschemark in the context of interest rate parity in order to detect a change in the implied risk premium. By using three month U.S. and German bank Certificate of Deposit rates as the basis for the IRP calculations, a considerable shift in this implied risk premium was detected and …
Monetarism, Federal Reserve Policy And The Monetarist Experiment, Richard Cantrell
Monetarism, Federal Reserve Policy And The Monetarist Experiment, Richard Cantrell
Masters Theses & Specialist Projects
The purpose of this thesis is to examine the period between the fourth quarter of 1979 through the third quarter of 1982 with respect to Federal Reserve policy. This period is known as the "Monetarist Experiment" because the Federal Reserve announced that it would be adopting monetarist principles in the implementation of its policy. Supporters of monetarism claim that this was not a true monetarist experiment because the Federal Reserve implemented policy incorrectly. Using statistical and time-series regression analyses, I address this question and conclude that the "Monetarist Experiment" was nothing of the kind. Federal Reserve policy never actually changed …