Financial Market Reaction to Federal Reserve Communications: Does the Crisis Make a Difference?

This paper studies the effects of Federal Reserve communications on US financial market returns from 1998 to 2009 and asks whether a significant change occurred during the financial crisis of August 2007–December 2009. We find, first, that central bank communication moves financial markets in the in...

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Bibliographic Details

Published in:	MAGKS - Joint Discussion Paper Series in Economics (Band 08-2008)
Main Authors:	Hayo, Bernd, Kutan, Ali M., Neuenkirch, Matthias
Format:	Work
Language:	English
Published:	2008
Subjects:	Monetary Policy Financial Crisis Federal Reserve Central Bank Communication Financial Markets Wirtschaft Economics
Online Access:	PDF Full Text
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