FinanceandEconomicsDiscussionSeries Divisions of Research&Statistics and Monetary Affairs Federal Reserve Board,Washington,D.C.

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FinanceandEconomicsDiscussionSeries Divisions of Research&Statistics and Monetary Affairs Federal Reserve Board,Washington,D.C.

StaffworkingpapersintheFinanceandEconomicsDiscussionSeries(FEDS)arepreliminary
materialscirculatedtostimulatediscussionandcriticalcomment.Theanalysisandconclusionssetforth
are thoseoftheauthorsanddonotindicateconcurrencebyothermembersoftheresearchstafforthe
Board ofGovernors.ReferencesinpublicationstotheFinanceandEconomicsDiscussionSeries(otherthan
acknowledgement)shouldbeclearedwiththeauthor(s)toprotectthetentativecharacterofthesepapers

Statement of Responsibility

Author(s)

MichaelS.Gibson - Personal Name

Edition

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ISBN/ISSN

Subject(s)

Classification

NONE

Series Title

GMD

Management

Language

English

Publisher

Publishing Year

Publishing Place

Collation

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