Federal reserve private information and the stock market
نویسندگان
چکیده
منابع مشابه
Federal Reserve Information and the Behavior of Interest Rates
This paper tests for the existence of asymmetric information between the Federal Reserve and the public by examining Federal Reserve and commercial inflation forecasts. It demonstrates that the Federal Reserve has considerable information about inflation beyond what is known to commercial forecasters. It also shows that monetary-policy actions provide signals of the Federal Reserve’s informatio...
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We find evidence that the Federal Reserve stress tests (CCAR and DFAST) produce information about the stress-tested firms as well as other, non-stress-tested banking companies. Although standard event studies do not always show abnormal returns for the stress-tested sample on average, we argue that such tests are ill-suited for this sort of information event. Using a different empirical approac...
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A large empirical literature found that the correlation between insurance purchase and ex post realization of risk is often statistically insignificant or negative. This is inconsistent with the predictions from the classic models of insurance a la Akerlof (1970), Pauly (1974) and Rothschild and Stiglitz (1976) where consumers have one-dimensional heterogeneity in their risk types. It is sugges...
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Understanding the impact of external shocks on stock markets returns and volatility is crucial for market participants as volatility is synonymous with risk. The focus of this paper is to determine whether the US monetary policy decisions influence the stock market returns and volatility in Egypt, Israel, and Turkey. Efficient markets react to new information; hence a greater response would be ...
متن کاملFederal Reserve Bank of
This paper develops recursive methods for considering stationary sequential equilibria in games with private actions and signals (private monitoring games), where play is assumed not only to continue forever into the future, but is also assumed to have occurred forever into the past. In particular, we develop set-based methods for constructing all pure strategy equilibria of the subclass of str...
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ژورنال
عنوان ژورنال: Journal of Banking & Finance
سال: 2019
ISSN: 0378-4266
DOI: 10.1016/j.jbankfin.2019.05.022