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Whatever-It-Takes Policymaking during the Pandemic
Dominguez, Kathryn M.; Foschi, Andrea - National Bureau of Economic Research - 2024
Central banks across the globe introduced large-scale asset purchase programs to address the unprecedented circumstances experienced during the pandemic. Many of these programs were announced as open-ended to shock-and-awe market participants and restore confidence in financial markets. This...
Persistent link: https://www.econbiz.de/10014486207
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The Effect of Macroeconomic News on Stock Returns : New Evidence from Newspaper Coverage
Birz, Gene - 2013
Previous literature has produced weak evidence to support the hypothesis that real economic news affects stock returns. This is, in part, attributed to the difficulty of measuring how investors interpret macroeconomic announcements in different economic environments. In this paper, we choose a...
Persistent link: https://www.econbiz.de/10013085197
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Bank of Canada communication, media coverage, and financial market reactions
Hayo, Bernd; Neuenkirch, Matthias - 2010
We examine the impact of Bank of Canada communications and media reporting on them on Canadian (short- and medium-term) bond and stock market returns using a GARCH model. Communications are rather uniformly distributed over the sample period (1998–2006); however, media coverage is particularly...
Persistent link: https://www.econbiz.de/10003980577
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How effective is European merger control?
Duso, Thomas; Gugler, Klaus; Yurtoglu, B. Burcin - 2011 - Rev. version of discussion paper no. 153
the period 1990-2002 to assess the effectiveness of European merger control. The basic idea is to relate announcement and … decision abnormal returns. Under a set of four maintained assumptions, merger control might be interpreted to be effective if … rents accruing due to the increased market power observed around the merger announcement are reversed by the antitrust …
Persistent link: https://www.econbiz.de/10008939212
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How Effective is European Merger Control?
Duso, Tomaso; Gugler, Klaus Peter; Yurtoglu, B. Burcin - 2008
concentrations during the period 1990-2002 to assess the effectiveness of European merger control. We analyze the economic effects of … the European Commission's merger control decisions and distinguish between prohibitions, clearances with commitments … quantify the profitability effects of mergers and merger control decisions. The basic idea is to relate announcement and …
Persistent link: https://www.econbiz.de/10014056772
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How effective is European merger control?
Duso, Tomaso; Gugler, Klaus; Yurtoglu, B. Burcin - 2006
assess merger control's effectiveness. By using data gathered from several sources and employing different evaluation … techniques, we analyze the economic effects of the European Commission's (EC) merger control decisions and distinguish between … merging and rival firms' stocks to quantify the profitability effects of mergers and merger control decisions. We back up our …
Persistent link: https://www.econbiz.de/10010365889
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Macroeconomic News and Acquirer Returns in M&As : The Impact of Investor Alertness
Barbopoulos, Leonidas G.; Adra, Samer; Saunders, Anthony - 2021
We investigate the extent to which the scheduled release of macroeconomic indicators affects the acquirer's value in Mergers and Acquisitions (M&As). We find that M&As announced on days of the release of key macroeconomic indicators (i.e. indicator days) realize higher announcement period...
Persistent link: https://www.econbiz.de/10013244178
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Assessing spill-over effects of US monetary policy and macroeconomic announcements on financial markets in Argentina
Hayo, Bernd; Neuenkirch, Matthias - 2008
We study the effects of U.S. monetary policy and macroeconomic announcements on Argentine money, stock and foreign exchange markets’ returns and volatility over the period 1998 to 2006 using a GARCH model. Firstly, we show that both types of news have a significant impact on all markets....
Persistent link: https://www.econbiz.de/10003865937
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Domestic or U.S. news : what drives Canadian financial markets?
Hayo, Bernd; Neuenkirch, Matthias - 2009
Using a GARCH model, we study the effects of Canadian and U.S. central bank communication and macroeconomic news on Canadian bond, stock, and foreign exchange market returns and volatility. First, news in both categories and from both countries has an impact on all financial markets. Canadian...
Persistent link: https://www.econbiz.de/10003849833
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Price Drift before U.S. Macroeconomic News : Private Information about Public Announcements?
Kurov, Alexander - 2017
We examine stock index futures and Treasury futures around the release time of 30 U.S. macroeconomic announcements. Nine of the 20 announcements that move markets show evidence of substantial informed trading before the official release time. Prices begin to move in the “correct” direction...
Persistent link: https://www.econbiz.de/10012971320