… where the definition of Mi is provided in Appendix B (appendix available upon request).
M3 and M4 are, of course, vectors that are conformable with ΔXt and ΔXt 1, respectively. …

Using trended Brownian motion to characterize borrower cash needs over time, we are able
to derive a probability density function for the time to depletion of a bank credit line as well …

… y is a linear function of x with a negative slope “b” and a positive intercept “a”; that is, μ y|x
=a+bx. The values of a and b are regression coefficients and can be expressed as functions of …

… B* will depend upon income and interest rates, in our notation the vector Z. For example, if
Z were to change, then B* would change in an offsetting fashion to adjust Z toward Z* or, more …

The use of survey data as a source of information with regard to inflationary expectations has
provided important insights into the inflationary process. Although Livingston's data set is …

… usefulness is constrained by B and M's information function. In particular, B and M assumed
… In order to put the analysis in this section on the same basis as B and M's work, the posterior …

… BRYAN STANHOUSE and LARRY SHERMAN* … Reflecting the borrower's negatively sloped
demand schedule, the rate of return decreases b percent for each dollar increase in the loan …

… ) and for our sample of insured bonds (Panel B). We summarize the correlations between the
four … Panel B reports summary statistics for the sub-sample of insured corporate bonds. The …

Most bank deposits contain an embedded option which permits the depositor to withdraw
funds at will. Demand deposits generally allow costless withdrawal, while time deposits often …

This paper provides an appropriate framework to evaluate the impact of the universal reserve
requirements called for by the new DIDMC Act of 1980. We derived the optimal reserve …