Financial market reaction to Federal Reserve communications: Does the global financial crisis make a difference?
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| 024 | 7 | 0 | |a 10.1007/s10663-014-9258-y |2 doi |
| 035 | |a (NATIONALLICENCE)springer-10.1007/s10663-014-9258-y | ||
| 245 | 0 | 0 | |a Financial market reaction to Federal Reserve communications: Does the global financial crisis make a difference? |h [Elektronische Daten] |c [Bernd Hayo, Ali Kutan, Matthias Neuenkirch] |
| 520 | 3 | |a This paper studies the effects of Federal Reserve communications on US financial market returns from 1998 to 2009 and asks whether they changed significantly during the global financial crisis of August 2007-July 2009. We find, first, that central bank communication moves financial markets in the intended direction. In particular, shorter maturities are affected in an economically meaningful way. Second, speeches by the chairman generate relatively larger market reactions than communication by other governors or presidents. Finally, central bank communication is even more market relevant during the subsample covering the global financial crisis. | |
| 540 | |a Springer Science+Business Media New York, 2014 | ||
| 690 | 7 | |a Central bank communication |2 nationallicence | |
| 690 | 7 | |a Federal Reserve |2 nationallicence | |
| 690 | 7 | |a Global financial crisis |2 nationallicence | |
| 690 | 7 | |a Financial markets |2 nationallicence | |
| 690 | 7 | |a Monetary policy |2 nationallicence | |
| 700 | 1 | |a Hayo |D Bernd |u Philipps-University Marburg, Marburg, Germany |4 aut | |
| 700 | 1 | |a Kutan |D Ali |u Southern Illinois University Edwardsville, Edwardsville, IL, USA |4 aut | |
| 700 | 1 | |a Neuenkirch |D Matthias |u Department of Economics, University of Trier, 54286, Trier, Germany |4 aut | |
| 773 | 0 | |t Empirica |d Springer US; http://www.springer-ny.com |g 42/1(2015-02-01), 185-203 |x 0340-8744 |q 42:1<185 |1 2015 |2 42 |o 10663 | |
| 856 | 4 | 0 | |u https://doi.org/10.1007/s10663-014-9258-y |q text/html |z Onlinezugriff via DOI |
| 898 | |a BK010053 |b XK010053 |c XK010000 | ||
| 900 | 7 | |a Metadata rights reserved |b Springer special CC-BY-NC licence |2 nationallicence | |
| 908 | |D 1 |a research-article |2 jats | ||
| 949 | |B NATIONALLICENCE |F NATIONALLICENCE |b NL-springer | ||
| 950 | |B NATIONALLICENCE |P 856 |E 40 |u https://doi.org/10.1007/s10663-014-9258-y |q text/html |z Onlinezugriff via DOI | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Hayo |D Bernd |u Philipps-University Marburg, Marburg, Germany |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Kutan |D Ali |u Southern Illinois University Edwardsville, Edwardsville, IL, USA |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Neuenkirch |D Matthias |u Department of Economics, University of Trier, 54286, Trier, Germany |4 aut | ||
| 950 | |B NATIONALLICENCE |P 773 |E 0- |t Empirica |d Springer US; http://www.springer-ny.com |g 42/1(2015-02-01), 185-203 |x 0340-8744 |q 42:1<185 |1 2015 |2 42 |o 10663 | ||