haku: @author Mester, L. / yhteensä: 4
viite: 2 / 4
| Tekijä: | Mester, L. Saunders, A. |
| Otsikko: | When does the prime rate change? |
| Lehti: | Journal of Banking and Finance
1995 : AUG, VOL. 19:5, p. 743-764 |
| Asiasana: | CHANGE BANKS LOANS |
| Kieli: | eng |
| Tiivistelmä: | The authors study the frequency of prime rate changes. They model the prime rate as a time-series variable that can be changed only at some cost. This yields a logit model in which the probability of a prime rate change is a function of market variables. The authors test this model using data from a micro data set that gives the dating of prime rate changes. The results indicate that adjustment costs are important to the prime rate adjustment process, and that changes in exogenous variables have a significantly larger effect on the probability of a prime rate increase than decrease. |
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