Matches in SemOpenAlex for { <https://semopenalex.org/work/W3121821684> ?p ?o ?g. }
Showing items 1 to 83 of
83
with 100 items per page.
- W3121821684 abstract "We extend the work of Bernanke and Kuttner [(2005). What explains the stock market’s reaction to federal reserve policy? Journal of Finance, 60, 1221–1257] by examining the impact of monetary shocks and policy tools on aggregate stock returns as well as the stock returns of financial institutions during the recent period of quantitative easing (QE) in the US. Specially, we test for the effectiveness of a major non-conventional monetary policy tool, the use of special asset purchase programs by the Federal Reserve, in impacting the financial markets. Estimates from vector auto-regression (VAR) analyses show that the impact of both unexpected and expected monetary shocks on aggregate stock returns is magnified several times during periods of QE. In addition, traditional monetary policy tools, like the Federal Funds rate, have no impact on aggregate stock returns, neither leading up to, nor during QE, while our non-conventional policy measure does appear to have some impact. In an extension of our results, we find that unexpected monetary shocks have an increased marginal impact on the stock returns of financial firms during QE. In addition, the stock returns of financial institutions have significant reactions to both changes in non-conventional monetary policy tools and announcements surrounding non-conventional policy actions." @default.
- W3121821684 created "2021-02-01" @default.
- W3121821684 creator A5033707183 @default.
- W3121821684 creator A5070101465 @default.
- W3121821684 creator A5087666608 @default.
- W3121821684 date "2016-04-13" @default.
- W3121821684 modified "2023-09-23" @default.
- W3121821684 title "Monetary Shocks, Policy Tools and Financial Firm Stock Returns: Evidence from the 2008 U.S. Quantitative Easing" @default.
- W3121821684 cites W1583427045 @default.
- W3121821684 cites W1982558172 @default.
- W3121821684 cites W1985919339 @default.
- W3121821684 cites W2002904506 @default.
- W3121821684 cites W2075292587 @default.
- W3121821684 cites W2165100677 @default.
- W3121821684 cites W2242637895 @default.
- W3121821684 cites W3122947491 @default.
- W3121821684 hasPublicationYear "2016" @default.
- W3121821684 type Work @default.
- W3121821684 sameAs 3121821684 @default.
- W3121821684 citedByCount "0" @default.
- W3121821684 crossrefType "posted-content" @default.
- W3121821684 hasAuthorship W3121821684A5033707183 @default.
- W3121821684 hasAuthorship W3121821684A5070101465 @default.
- W3121821684 hasAuthorship W3121821684A5087666608 @default.
- W3121821684 hasConcept C10138342 @default.
- W3121821684 hasConcept C126285488 @default.
- W3121821684 hasConcept C127413603 @default.
- W3121821684 hasConcept C133029050 @default.
- W3121821684 hasConcept C151730666 @default.
- W3121821684 hasConcept C162324750 @default.
- W3121821684 hasConcept C19244329 @default.
- W3121821684 hasConcept C204036174 @default.
- W3121821684 hasConcept C2778333325 @default.
- W3121821684 hasConcept C2780299701 @default.
- W3121821684 hasConcept C2780762169 @default.
- W3121821684 hasConcept C29185160 @default.
- W3121821684 hasConcept C2992735868 @default.
- W3121821684 hasConcept C556758197 @default.
- W3121821684 hasConcept C78519656 @default.
- W3121821684 hasConcept C86803240 @default.
- W3121821684 hasConceptScore W3121821684C10138342 @default.
- W3121821684 hasConceptScore W3121821684C126285488 @default.
- W3121821684 hasConceptScore W3121821684C127413603 @default.
- W3121821684 hasConceptScore W3121821684C133029050 @default.
- W3121821684 hasConceptScore W3121821684C151730666 @default.
- W3121821684 hasConceptScore W3121821684C162324750 @default.
- W3121821684 hasConceptScore W3121821684C19244329 @default.
- W3121821684 hasConceptScore W3121821684C204036174 @default.
- W3121821684 hasConceptScore W3121821684C2778333325 @default.
- W3121821684 hasConceptScore W3121821684C2780299701 @default.
- W3121821684 hasConceptScore W3121821684C2780762169 @default.
- W3121821684 hasConceptScore W3121821684C29185160 @default.
- W3121821684 hasConceptScore W3121821684C2992735868 @default.
- W3121821684 hasConceptScore W3121821684C556758197 @default.
- W3121821684 hasConceptScore W3121821684C78519656 @default.
- W3121821684 hasConceptScore W3121821684C86803240 @default.
- W3121821684 hasLocation W31218216841 @default.
- W3121821684 hasOpenAccess W3121821684 @default.
- W3121821684 hasPrimaryLocation W31218216841 @default.
- W3121821684 hasRelatedWork W1529221549 @default.
- W3121821684 hasRelatedWork W1546046248 @default.
- W3121821684 hasRelatedWork W1967554843 @default.
- W3121821684 hasRelatedWork W1980125033 @default.
- W3121821684 hasRelatedWork W1982558172 @default.
- W3121821684 hasRelatedWork W2050619893 @default.
- W3121821684 hasRelatedWork W2124414325 @default.
- W3121821684 hasRelatedWork W2340802052 @default.
- W3121821684 hasRelatedWork W2606948647 @default.
- W3121821684 hasRelatedWork W2799733665 @default.
- W3121821684 hasRelatedWork W2953664091 @default.
- W3121821684 hasRelatedWork W2979620500 @default.
- W3121821684 hasRelatedWork W3006746910 @default.
- W3121821684 hasRelatedWork W3122086360 @default.
- W3121821684 hasRelatedWork W3124112970 @default.
- W3121821684 hasRelatedWork W3124475699 @default.
- W3121821684 hasRelatedWork W3124580997 @default.
- W3121821684 hasRelatedWork W3147010056 @default.
- W3121821684 hasRelatedWork W3197595842 @default.
- W3121821684 hasRelatedWork W3198911932 @default.
- W3121821684 isParatext "false" @default.
- W3121821684 isRetracted "false" @default.
- W3121821684 magId "3121821684" @default.
- W3121821684 workType "article" @default.