Monetary policy shocks and distressed firms’ stock returns: Evidence from the publicly traded U.S. firms
Sign Up to like & getrecommendations! Published in 2017 at "Economics Letters"
DOI: 10.1016/j.econlet.2017.09.009
Abstract: We study U.S. firms’ stock-return sensitivities to monetary policy shocks over the 2001–2015 period. Expansionary monetary shocks disproportionately increase returns of a distressed firm which has profit substantially smaller than its interest expense and is… read more here.
Keywords: policy shocks; shocks distressed; monetary policy; firms stock ... See more keywords
Monetary policy announcements and bank lending: Do banks’ refinancing markets matter?
Sign Up to like & getrecommendations! Published in 2021 at "Economic Modelling"
DOI: 10.1016/j.econmod.2021.105559
Abstract: Abstract How do bank loans respond to monetary policy shocks? The bank lending channel holds that banks' refinancing costs are crucial. This paper shows that what ultimately matters are shifts in the supply of funds… read more here.
Keywords: bank; policy shocks; monetary policy; bank lending ... See more keywords
Monetary policy shocks and financially constrained stock returns: The effects of the financial crisis
Sign Up to like & getrecommendations! Published in 2018 at "International Review of Financial Analysis"
DOI: 10.1016/j.irfa.2018.05.001
Abstract: This study provides comprehensive evidence on the return response of financially constrained firms listed on London Stock Exchange (LSE) to UK monetary policy shocks extracted from the Bank of England's MPC meetings relative to expectations… read more here.
Keywords: policy; financially constrained; monetary policy; stock returns ... See more keywords
Changes in monetary regimes and the identification of monetary policy shocks: Narrative evidence from Canada
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Monetary Economics"
DOI: 10.1016/j.jmoneco.2018.06.002
Abstract: We use narrative evidence along with a novel database of real-time data and forecasts from the Bank of Canada’s staff economic projections from 1974 to 2015 to construct a new measure of monetary policy shocks… read more here.
Keywords: policy; canada; monetary policy; narrative evidence ... See more keywords
Monetary policy shocks from the consumer perspective
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Monetary Economics"
DOI: 10.1016/j.jmoneco.2019.03.012
Abstract: Abstract Applying a latent factor model to survey expectations data on economic conditions, unemployment, family finances, and readiness to spend reveals that, following a monetary policy shock, consumer expectations adjust in the direction predicted by… read more here.
Keywords: policy shocks; monetary policy; shocks consumer; policy ... See more keywords
Delphic and odyssean monetary policy shocks: Evidence from the euro area
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Monetary Economics"
DOI: 10.1016/j.jmoneco.2020.06.002
Abstract: In this paper, we study the impact of the ECB announcements on the market-based expectations of interest rates and of in ation rates. We nd that the impact of the ECB announcements on in ation… read more here.
Keywords: policy; delphic odyssean; odyssean monetary; monetary policy ... See more keywords
US monetary policy shocks and the Chinese economy: a GVAR approach
Sign Up to like & getrecommendations! Published in 2017 at "Applied Economics Letters"
DOI: 10.1080/13504851.2016.1210761
Abstract: ABSTRACT Using a global vector auto regressive (GVAR) methodology, this article examines the impact of US monetary policy shocks on China’s major macroeconomic indicators. Our analysis reveals that a positive shock to the US money… read more here.
Keywords: term interest; monetary policy; policy shocks; rate ... See more keywords
Using Entropy to Evaluate the Impact of Monetary Policy Shocks on Financial Networks
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DOI: 10.3390/e23111465
Abstract: We analyze the changes in the financial network built using the Dow Jones Industrial Average components following monetary policy shocks. Monetary policy shocks are measured through unexpected changes in the federal funds rate in the… read more here.
Keywords: financial networks; networks using; using entropy; policy shocks ... See more keywords