Working Paper
Public Infrastructure and Regional Economic Development: A Simultaneous Equations Approach
An analysis of how central-bank exchange-market intervention can affect both the level of exchange rates and the risk premium in asset returns, showing how the risk premium is related to the conditional variances of intervention and other exogenous processes.
Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.
Suggested Citation
Duffy-Deno, Kevin, and Randall Eberts. 1989. “Public Infrastructure and Regional Economic Development: A Simultaneous Equations Approach.” Federal Reserve Bank of Cleveland, Working Paper No. 89-09.
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