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- W2755148957 abstract "We examine whether monetary policy uncertainty, related to tapering of the Federal Reserve’s asset purchase program, influences the reaction of the equity, Treasury security, foreign exchange and crude oil markets, as well as medium-term interest rates, to U.S macroeconomic announcements. Using intraday futures data, we show that in the presence of higher policy uncertainty the response to macroeconomic news weakens in the stock and crude oil markets and strengthens in the Treasury, interest rate and foreign exchange markets. These results provide direct evidence that conditioning monetary policy on incoming economic data influences the market reaction to macroeconomic news." @default.
- W2755148957 created "2017-09-25" @default.
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- W2755148957 date "2016-01-01" @default.
- W2755148957 modified "2023-09-27" @default.
- W2755148957 title "Monetary Policy Uncertainty and the Market Reaction to Macroeconomic News: Evidence from the Taper Tantrum" @default.
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- W2755148957 doi "https://doi.org/10.2139/ssrn.2776357" @default.
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