Vol. 87, No. 2
Second Quarter 2002
The Economics of Payment Finality
Charles M. Kahn and William Roberds
By providing a basic analysis of payment finality and its role in facilitating exchange, this article helps clarify some issues surrounding finality, such as allocating risks and liabilities.
Asset Returns and Economic Risk
This article sheds light on some factors investors should track to hedge against financial and economic uncertainty and reveals the source of extra returns for holding risky assets.
Special Repo Rates: An Introduction
The focus of this article is the repo market, especially the role the market plays in the financing and hedging activities of primary dealers.
The Behavior of Federal Funds Futures Prices over the Monetary Policy Cycle
Jeff Moore and Richard Austin
This article examines the relationship between U.S. monetary policy changes and futures market participants' ability to forecast these changes.