assets (gold, oil, and stocks) covering the period from 1987 to 2012. The analysis is performed on both intra-day and daily …. Heterogeneity prevails in correlations between gold and stocks. After the 2008 crisis, correlations among all three assets increase …

. Identifying the impact of this information on stock markets and forecasting stock returns and volatilities has become a much more … impacts on stock returns. We further found that the delayed impact of the constituents of the monetary aggregate M2 on stock … returns changed direction between the crisis and post-crisis periods. Overall, the results illustrate that in the crisis …