increases, so does the risk that a restrictive forward guidance shock will increase rather than decrease stock prices. This … suggest that uncertainty is an alternative approach to explain the phenomena previously known as "information shock" and …

monetary policy shocks. Although the increase in the volatility risk premium, futures-trading volume, and leverage appear to …In this paper, we investigate the dynamic response of stock market volatility to changes in monetary policy. Using a … vector autoregressive model, our findings reveal a significant and asymmetric response of stock returns and volatility to …