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This paper tests the policitcal dimensions of the presidential cycle effect in U.S. financial markets. The presidential cycle effect states that average stock market returns are significantly higher in the last two years compared to the first two years of a presidential term. We confirm the...
Persistent link: https://www.econbiz.de/10011377245
equities, the cost of default of those firms is equal zero. Indeed, firms suffer from losses on fire-sales but at the same time … and deposits affect the performance of banks and firms, observing economic dynamics in time under different …
Persistent link: https://www.econbiz.de/10012964738
of security issuer fundamental performance over time. Distinctive signaling sources on this performance correspond to …), confidence, and diffusion degree among investors over space and time. Under full and immediate diffusion and balanced reaction by … confidence mood among investors over space and time. We illustrate our results through paradigmatic cases of stochastic news …
Persistent link: https://www.econbiz.de/10012970505
formation over time, capable to capture important stylized facts. These latter properties prove to be sensitive to regulatory …
Persistent link: https://www.econbiz.de/10013034712
another side, price system provides collective signal of market-driven information over time. Both jointly drive the formation … share market prices over time.This numerical statistical analysis contributes to shed light on accounting anomalies and …
Persistent link: https://www.econbiz.de/10013035505
The Fed has never admitted targeting stock prices. Yet our empirical analysis, based on a small macro-econometric model of the U.S. economy in the period 1981-2002, shows that the Fed explicitly takes into account stock price variations in its reaction function. Furthermore, our simulation...
Persistent link: https://www.econbiz.de/10013142770
neurons, which store the information about a particular event and its outcome. These neurons get trained in due course of time …
Persistent link: https://www.econbiz.de/10013113754
This article examines the impact of news about the Bank of Japan monetary policy announcements regarding the Japanese yen, US dollar, and the Euro interest rates. Whether or not the announcements from the monetary authorities impact the domestic markets is related to the success of their...
Persistent link: https://www.econbiz.de/10009565386
In an effort to provide a set of reasonable expectations for stock market performance during 2011, we present results of two simple econometric exercises. Our starting point is the recent trough of economic activity which took place in June of 2009, according to the NBER. This means 2011...
Persistent link: https://www.econbiz.de/10013130660
Persistent link: https://www.econbiz.de/10009782578