Bank imputed interest rates
Subtitle: unbiased estimates of offered rates?
By: Evren Örs, Tara Rice
Contributors: Rice, Tara N.; Federal Reserve Bank of Chicago. Research Dept.
Series: Working paper series -- WP-2006-26; Working paper series (Federal Reserve Bank of Chicago. Research Department : Online) -- WP-2006-26.
Publisher: Federal Reserve Bank of Chicago
Published: 2006
Place of publication: Chicago, Ill.]
Language: eng
Format: [electronic resource] :
Subjects: Imputed interest; Banks and banking
Description: "We examine whether "imputed" interest rates obtained from bank financial statements are unbiased estimates of "offered" interest rates that the same banks report in surveys.  We find evidence of a statistically significant amount of bias.  However, the statistical bias that we document does not appear to be economically significant.  When used as dependent variables in regression analysis, imputed rates and offered rates lead to the same policy conclusions.  Our work has important methodological implications for empirical research that examines the product market competition among depository institutions"--Federal Reserve Bank of Chicago web site.
Notes: Title from PDF file as viewed on 1/18/2007.

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