U.S. Monetary Shocks and Global Stock Prices /

This paper studies how U.S. monetary policy affects global stock prices. We find that global stock prices respond strongly to changes in U.S. interest rate policy, with stock prices increasing (decreasing) following unexpected monetary loosening (tightening). This impact is more pronounced for secto...

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Autor principal: Laeven, Luc
Altres autors: Tong, Hui
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 2010.
Col·lecció:IMF Working Papers; Working Paper ; No. 2010/278
Accés en línia:Full text available on IMF