The Effects of Money Announcements under Alternative Monetary Control Procedures
从理论上考察了利率对货币公告意外的反应，发现操作程序、准备金制度以及期望的货币控制程度都会影响这一反应，且1984年实施的同期准备金制度下两周内的反应可能不同。
The response of interest rates to money announcement surprises is theoretically exam ined in this paper. In the models developed, not only changes in oper ating procedures, but also reserve-requirement systems, are found to potentially affect the response. The response also varies depending o n the desired degree of monetary control. Moreover, under the current two-week contemporaneous reserve requirements adopted in February 19 84, the responses in the first and second weeks of the two-week reser ve maintenance period may differ. Previous empirical results conform to the predictions of the theoretical models. Copyright 1987 by Ohio State University Press.