LIBROS DEL AUTOR: william b english

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  • Finance and Economics Discussion Series
    William B. English / et al. / United States Federal Reserve Board
    Because they engage in maturity transformation, a steepening of the yield curve should, all else equal, boost bank profitability. We re-examine this conventional wisdom by estimating the reaction of bank intraday stock returns to exogenous fluctuations in interest rates induced by monetary policy announcements. We construct a new measure of the mismatch between the repricing ti...
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