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Responses of the Stock Market to Macroeconomic Announcements Across Economic States
Hu, Zuliu - 1998
Is the stock market responsive to macroeconomic news? This paper employs the daily returns of the Dow Jones Industrial Index, the S&P 500 index, the Russell 1000 index, and the Russell 2000 index to examine stock market reactions to a broad list of macroeconomic announcements, including money...
Persistent link: https://www.econbiz.de/10014401312
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Pricing protest : the response of financial markets to social unrest
Barrett, Philip; Bondar, Mariia; Chen, Sophia; … - 2021
Using a new daily index of social unrest, we provide systematic evidence on the negative impact of social unrest on stock market performance. An average social unrest episode in an typical country causes a 1.4 percentage point drop in cumulative abnormal returns over a two-week event window....
Persistent link: https://www.econbiz.de/10012518928
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Hang in there : stock market reactions to withdrawals of COVID-19 stimulus measures
Chan-Lau, Jorge A.; Zhao, Yunhui - 2020
The COVID-19 pandemic prompted unprecedented economic stimulus worldwide. We empirically examine the impact of a withdrawal of fiscal stimulus policies on the stock markets. After constructing a database of withdrawal events, we use event study analysis and cross-country regressions to assess...
Persistent link: https://www.econbiz.de/10012486103
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Macroeconomic News and Stock Returns in the United States and Germany
Funke, Norbert - 2002
Using daily data for the January 1997 to June 2002 period, we analyze the impact of a broad set of macroeconomic news on stock prices in the United States and Germany. With GARCH specifications we test five hypotheses and find that news on real economic activity has a significant impact on stock...
Persistent link: https://www.econbiz.de/10014399615
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Winner-Loser Reversals in National Stock Market Indices : Can they Be Explained?
Richards, Anthony J. - 1997
This paper examines possible explanations for “winner–loser reversals” in the national stock market indices of 16 countries. There is no evidence that loser countries are riskier than winner countries either in terms of standard deviations, covariance with the world market or other risk...
Persistent link: https://www.econbiz.de/10014403316
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Outlook for interest rates and Japanese banks’ risk exposures under abenomics
Arslanalp, Serkan; Lam, W. Raphael - 2013
This paper examines how Japan’s long-term interest rates and Japanese banks’ interest rate risk exposures may evolve … yields in Japan are determined to a large extent by growth and inflation outlook, fiscal conditions, demography, and the … increased purchases by the Bank of Japan. At the same time, illustrative scenarios suggest the interest rate risk exposure of …
Persistent link: https://www.econbiz.de/10012667499
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Achieving the Bank of Japan's inflation target
Anand, Rahul; Hong, Gee Hee; Hul, Yaroslav - 2019
The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to … analysis (FPAS) for Japan. In the model's baseline scenario, the likelihood of the Bank of Japan reaching its 2 percent …
Persistent link: https://www.econbiz.de/10012154577
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Demographic Change in Asia : The Impacton Optimal National Saving, Investment, and the Current Account
McDonald, Ian - 2000
economies—Hong Kong SAR, Japan, Singapore, Malaysia, and the Philippines—for the period 1997–2050 using a simulation approach …
Persistent link: https://www.econbiz.de/10014399958
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Japanese Banks and the Asset Price ""Bubble""
Fries, Steven M. - 1993
With the recent collapse of the asset price “bubble,” Japanese banks encountered significant pressure from both a sharp decline in the value of equity holdings and a marked increase in bad loans. In August 1992, the Government initiated measures that stabilized equity prices and assisted...
Persistent link: https://www.econbiz.de/10014396132
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Go Long or Short in Pyramids? : News From the Egyptian Stock Market
Massa, Isabella - 2007
Similar to other emerging economies, the Egyptian stock market has recently experienced a remarkable run-up but also a major downturn. This paper analyzes the stock market from two angles. First, it compares the performance of the major stock price index with its underlying fundamentals. Second,...
Persistent link: https://www.econbiz.de/10014401258