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Do central banks lose on foreign-exchange intervention? A review article

Article Abstract:

The desirability of central bank intervention on foreign exchange was evaluated through the consideration of risk adjustment estimates. Estimates of risk-adjusted profits involving US Fed and the Swedish Riksbank revealed that central bank intervention on foreign-exchange leads to profits. The approach used in the analysis uncovered the significance of risk adjustment, which makes research outcomes insensitive to the presence of interest-rate differentials, in assessing central bank's gain on foreign-exchange intervention.

Administration of General Economic Programs, Foreign Exchange & Reserves Policy, Economic aspects, Political aspects, Foreign exchange, Central banks, Monetary policy

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New evidence on the Fed's productivity in providing payments services

Article Abstract:

The study to examine the productivity of Federal Reserve in payments services finds that there was little improvement in the productivity after imposition of pricing for services and median productivity improved substantially during 1990s and dispersion of productivity across Federal Reserve offices declined. The study used non parametric estimation and hypothesis for this examination.

Management dynamics, Analysis, Management, Company business management, Industrial productivity, Productivity

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Alternative measures of the Federal Reserve Banks' cost of equity capital

Article Abstract:

The Monetary Control Act of 1980 makes it mandatory for federal reserve banks to provide cost of equity estimations. A new method for estimating cost of equity of federal reserve banks is presented.

Legal issues & crime, Government regulation (cont), Government expenditures, Government regulation, Legal/Government Regulation, Laws, regulations and rules, Measurement, Economic policy, United States. Federal Reserve Board, Equity (Finance)

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