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Symmetric versus asymmetric interest rate adjustment mechanisms: The prime rate,below-prime lending and the commercial paper rate |
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| Authors: | Karma G. Hadjimichalakis |
| Affiliation: | Board of Governors of the Federal Reserve System, Washington, DC 20551, USA |
| Abstract: | Alternative interest rate adjustment mechanisms are considered to explain variation in the spread between the prime rate and the commercial paper rate and the phenomenon of below-prime lending. |
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