Sondermann, David; Bohl, Martin T.; Siklos, Pierre L. - In: Finance Research Letters 6 (2009) 4, pp. 230-235
This paper analyzes the first part of the stock market channel of monetary policy in the euro area. We find heterogeneous reactions of euro area stock markets to unexpected ECB's interest rate decisions. Splitting all markets into two groups, covering the stock markets reacting significantly to...