Monetary policy actions and long-term interest rates

It is generally believed that monetary policy actions are transmitted to the economy through their effect on market interest rates. According to this standard view, a restrictive monetary policy by the Federal Reserve pushes up both short-term and long-term interest rates, leading to less spending by interest-sensitive sectors of the economy such as housing, consumer durable goods, and business fixed investment. Conversely, an easier policy results in lower interest rates that stimulate economic activity. Unfortunately, empirical studies and the observed behavior of interest rates appear to challenge the standard view of the monetary transmission mechanism and raise questions about the effectiveness of monetary policy.> Roley and Sellon attempt to reconcile theory and reality by reexamining the connection between monetary policy and long-term interest rates. Using a framework that emphasizes the importance of market expectations of future monetary policy actions, the authors argue that the relationship between policy actions and long-term rates is likely to vary over the business cycle as financial market participants alter their views on the persistence of policy actions. Accordingly, the standard view of the monetary transmission mechanism appears to provide an overly simplistic view of the policy process. In addition, by capturing the tendency of market rates to anticipate policy actions, the authors find a larger response of long-term rates to monetary policy actions than reported in previous research.Interest rates ; Monetary policy

Private Equity Funding for Minority Media Ownership

This Article details the importance of private equity financing to all sizes and types of media companies. Much of the rapid growth of the Internet has been financed by private equity. The private equity market is an important source of funds for minority media companies. It is a large market, able to meet a variety of financing needs. However, the minority media entrepreneur must realize that this is strictly a profit-oriented investment market. The same investment process and criteria will be applied to minority media proposals as will be applied to non-minority media proposals. This process may present some problems for minority entrepreneurs since most private equity investors are not minorities. Forum: New Approaches to Minority Media Ownership, Columbia Institute for Tele-Information, Columbia University

Private Equity Funding for Minority Media Ownership

This Article details the importance of private equity financing to all sizes and types of media companies. Much of the rapid growth of the Internet has been financed by private equity. The private equity market is an important source of funds for minority media companies. It is a large market, able to meet a variety of financing needs. However, the minority media entrepreneur must realize that this is strictly a profit-oriented investment market. The same investment process and criteria will be applied to minority media proposals as will be applied to non-minority media proposals. This process may present some problems for minority entrepreneurs since most private equity investors are not minorities. Forum: New Approaches to Minority Media Ownership, Columbia Institute for Tele-Information, Columbia University

$7,376 "Ivies": Value-Designed Models of Undergraduate Education

Is it possible to get an "Ivy" education for $7,376 a year? Can a college provide high-quality undergraduate education at a reasonable cost? In this paper, I explore if cost can be reduced and quality improved through the use of new "value-designed" models of undergraduate education. A value-designed model allows you to appeal to customers seeking the greatest value. These are the students -- or perhaps more often, their parents -- who are looking for a high-quality product at a relatively low price. To be able to charge a relatively low price, a college must have either a large subsidy from public or private sources or low costs. In this paper, I focus on the cost side of providing a high-quality education

The Use of N, N, N1, N1 Tetrakis (2-Hydroxypropyl) Ethylenediamine in the Determination of the R203 Group in Limestone

Author Institution: Department of Chemistry, University of Toledo, Toledo, Ohi

Determination of Calcium in Cinder Block

Author Institution: Department of Chemistry, University of Toledo, Toledo, Ohi