Taking Stock: Monetary Policy Transmission to Equity Markets
نویسندگان
چکیده
منابع مشابه
Monetary Policy and Stock Markets Evidence from EU Countries
The analysis of monetary policy impact via interest rate as instrument of intervention on the evolution of stock market prices has gained more popularity during the current crisis due to the accumulation of financial imbalances. This article investigates the impact of monetary policy on equity indexes in European Union countries from January 2000 to February 2012, using cointegration and Grange...
متن کاملTaking Stock of Virtual Markets
"Pentagon Prepares a Futures Market on Terror Attacks" blared the headline in the New York Times above an article on the Pentagon's "policy analysis market" (PAM) project. The Pentagon intended to employ a "virtual stock market" — for the aggregation of information and derivation of forecasts — to help predict foreign-policy events such as a coup d'état in a particular country or terrorist atta...
متن کاملImpact of monetary policy changes on the Chinese monetary and stock markets
The impact of monetary policy changes on themonetarymarket and stockmarket in China is investigated in this study. The changes of two major monetary policies, the interest rate and required reserve ratio, are analyzed in a study period covering seven years on the interbank monetary market and Shanghai stock market. We find that the monetary market is related to the macro economy trend and we al...
متن کاملOutput Composition of Monetary Policy Transmission
This paper aims to investigate the role of each aggregate spending component in the monetary policy transmission in Indonesia. It assesses the relative strength of the role of each spending component in the monetary policy transmission. In so doing, this study employs the contribution analysis, which is calculated based on the cumulative impulse response of each component of GDP to a monetary p...
متن کاملAsset Markets and Monetary Policy
Monetary policy has pursued the concept of inflation targeting. This has been implemented in many countries. Here interest rates are supposed to respond to an inflation gap and output gap. Despite long term continuing growth of the world financial assets, recently, monetary policy, in particular in the U.S. after the subprime credit crisis, was challenged by severe disruptions and a meltdown of...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Money, Credit, and Banking
سال: 2004
ISSN: 1538-4616
DOI: 10.1353/mcb.2004.0063