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| Author: | Dutkowsky, D. H. McCoskey, S. K. |
| Title: | Near integration, bank reluctance, and discount window borrowing |
| Journal: | Journal of Banking and Finance
2001 : JUN, VOL. 25:6, p. 1013-1036 |
| Index terms: | Banks Borrowing Loans Econometric models Integration |
| Language: | eng |
| Abstract: | The study puts forth stationarity considerations in explaining the observed breakdown between aggregate Discount Window borrowing and the spread between the Federal Funds rate and the discount rate during the post-1987 period. The Goodfriend-Dutkowsky dynamic imlicit cost formulation can accommodate the contrasting stationarity properties. |
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