scholarly journals Pre-Announcement Effects, News, and Volatility : Monetary Policy and the Stock Market

2000 ◽  
Vol 2000 (50) ◽  
pp. 1-33 ◽  
Author(s):  
Antulio N. Bomfim ◽  
Keyword(s):  
Monetary Policy ◽  
Stock Market ◽  
Announcement Effects

Measuring the Short-Term Effects of the ECB’s Unconventional Monetary Policy on Financial Markets: A Review

2021 ◽  
Vol 54 (1) ◽  
pp. 37-77
Author(s):  
Lisa-Maria Kampl
Keyword(s):  
Monetary Policy ◽  
Financial Markets ◽  
Event Studies ◽  
Empirical Literature ◽  
Unconventional Monetary Policy ◽  
Short Term ◽  
Comprehensive Overview ◽  
Announcement Effects ◽  
Policy Measures ◽  
Short Term Effects

Following the financial crisis in 2008, the ECB implemented various unconventional policy measures to respond to the tensions on the market. These measures had a significant impact and short-term effects on financial markets. This literature review provides a extensive overview of the empirical literature dealing with the short-term effects of this unconventional monetary policy using event studies. Furthermore, a methodological analysis of conducted event studies is carried out. First, we review empirical event studies focusing on the effects on the bond market, the stock market, as well as on international spill-over effects. Secondly, we carry out a methodological analysis of event studies that estimate the announcement effects of the ECB’s unconventional measures. In this context, the analysis provides insight into the process of determining relevant events, the categorization of those, measuring the surprise component, and determining control variables. By comparing the different approaches applied, we give a comprehensive overview of similarities as well as differences in the methodology used.

scholarly journals Monetary Policy and Stock Market Booms and Busts in the 20th Century

2007 ◽  
Author(s):  
Michael D. Bordo ◽  
Michael Dueker ◽  
David C. Wheelock
Keyword(s):  
Monetary Policy ◽  
Stock Market ◽  
20Th Century
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