Matches in SemOpenAlex for { <https://semopenalex.org/work/W1509213535> ?p ?o ?g. }
Showing items 1 to 97 of
97
with 100 items per page.
- W1509213535 abstract "There are numerous empirical and theoretical studies that show that stock returns are affected by implementations of monetary policy. But, as mentioned in Bernanke and Kuttner (2005), very few studies tackle the question of why the stock market reacts to monetary policy. Romer and Romer (2000) and Sims (2002) show empirically that the Fed has superior information about future inflation and output. This paper investigates the reasons of stock returns’ reaction to monetary policy in the context of asymmetric information and learning. The analysis examines whether asymmetric information between the Federal Reserve and the public influences this relation between stock returns and monetary policy. It also constructs a Kalman filter algorithm to analyze the information and learning dynamics between the Federal Reserve and a representative investor. The paper concludes that asymmetric information is one of the reasons for the influence of monetary policy on stock returns. Stock returns react to monetary policy because the latter indirectly reveals the Fed’s private information about future inflation and output. Investors revise their expectations after observing the Fed’s actions and this produces a change in stock returns. This analysis has several policy implications. The results of the paper suggest that the policymaker should take into account the effects of monetary policy on the expectations of the public." @default.
- W1509213535 created "2016-06-24" @default.
- W1509213535 creator A5006093398 @default.
- W1509213535 date "2009-06-04" @default.
- W1509213535 modified "2023-09-28" @default.
- W1509213535 title "Asymmetric Information, Stock Returns and Monetary Policy" @default.
- W1509213535 cites W1484159650 @default.
- W1509213535 cites W1557832879 @default.
- W1509213535 cites W1982558172 @default.
- W1509213535 cites W1984967678 @default.
- W1509213535 cites W2003451358 @default.
- W1509213535 cites W2017489786 @default.
- W1509213535 cites W2026591027 @default.
- W1509213535 cites W2069148799 @default.
- W1509213535 cites W2072983138 @default.
- W1509213535 cites W2094811782 @default.
- W1509213535 cites W2095678191 @default.
- W1509213535 cites W2116484752 @default.
- W1509213535 cites W2124532652 @default.
- W1509213535 cites W2135052744 @default.
- W1509213535 cites W2140898820 @default.
- W1509213535 cites W2141333457 @default.
- W1509213535 cites W2152893593 @default.
- W1509213535 cites W2165100677 @default.
- W1509213535 cites W2170749985 @default.
- W1509213535 cites W3021579201 @default.
- W1509213535 cites W3022712314 @default.
- W1509213535 cites W3121236665 @default.
- W1509213535 cites W3121271971 @default.
- W1509213535 cites W3121935849 @default.
- W1509213535 cites W3121938565 @default.
- W1509213535 cites W3122148759 @default.
- W1509213535 cites W3124211566 @default.
- W1509213535 cites W3124634395 @default.
- W1509213535 cites W3144758841 @default.
- W1509213535 cites W3146166473 @default.
- W1509213535 hasPublicationYear "2009" @default.
- W1509213535 type Work @default.
- W1509213535 sameAs 1509213535 @default.
- W1509213535 citedByCount "1" @default.
- W1509213535 crossrefType "posted-content" @default.
- W1509213535 hasAuthorship W1509213535A5006093398 @default.
- W1509213535 hasConcept C106159729 @default.
- W1509213535 hasConcept C126285488 @default.
- W1509213535 hasConcept C127413603 @default.
- W1509213535 hasConcept C151730666 @default.
- W1509213535 hasConcept C162324750 @default.
- W1509213535 hasConcept C204036174 @default.
- W1509213535 hasConcept C205649164 @default.
- W1509213535 hasConcept C2777601356 @default.
- W1509213535 hasConcept C2779343474 @default.
- W1509213535 hasConcept C2780299701 @default.
- W1509213535 hasConcept C556758197 @default.
- W1509213535 hasConcept C58640448 @default.
- W1509213535 hasConcept C78519656 @default.
- W1509213535 hasConcept C86803240 @default.
- W1509213535 hasConceptScore W1509213535C106159729 @default.
- W1509213535 hasConceptScore W1509213535C126285488 @default.
- W1509213535 hasConceptScore W1509213535C127413603 @default.
- W1509213535 hasConceptScore W1509213535C151730666 @default.
- W1509213535 hasConceptScore W1509213535C162324750 @default.
- W1509213535 hasConceptScore W1509213535C204036174 @default.
- W1509213535 hasConceptScore W1509213535C205649164 @default.
- W1509213535 hasConceptScore W1509213535C2777601356 @default.
- W1509213535 hasConceptScore W1509213535C2779343474 @default.
- W1509213535 hasConceptScore W1509213535C2780299701 @default.
- W1509213535 hasConceptScore W1509213535C556758197 @default.
- W1509213535 hasConceptScore W1509213535C58640448 @default.
- W1509213535 hasConceptScore W1509213535C78519656 @default.
- W1509213535 hasConceptScore W1509213535C86803240 @default.
- W1509213535 hasLocation W15092135351 @default.
- W1509213535 hasOpenAccess W1509213535 @default.
- W1509213535 hasPrimaryLocation W15092135351 @default.
- W1509213535 hasRelatedWork W1568637709 @default.
- W1509213535 hasRelatedWork W1605465762 @default.
- W1509213535 hasRelatedWork W1777096180 @default.
- W1509213535 hasRelatedWork W200260858 @default.
- W1509213535 hasRelatedWork W2058747792 @default.
- W1509213535 hasRelatedWork W206537443 @default.
- W1509213535 hasRelatedWork W2080199403 @default.
- W1509213535 hasRelatedWork W2090257341 @default.
- W1509213535 hasRelatedWork W2122970210 @default.
- W1509213535 hasRelatedWork W2148285137 @default.
- W1509213535 hasRelatedWork W2168544168 @default.
- W1509213535 hasRelatedWork W2168958372 @default.
- W1509213535 hasRelatedWork W2347284133 @default.
- W1509213535 hasRelatedWork W2356730765 @default.
- W1509213535 hasRelatedWork W2370077271 @default.
- W1509213535 hasRelatedWork W2374283516 @default.
- W1509213535 hasRelatedWork W2382186973 @default.
- W1509213535 hasRelatedWork W2793267405 @default.
- W1509213535 hasRelatedWork W2977160733 @default.
- W1509213535 hasRelatedWork W3123313076 @default.
- W1509213535 isParatext "false" @default.
- W1509213535 isRetracted "false" @default.
- W1509213535 magId "1509213535" @default.
- W1509213535 workType "article" @default.