Information or Uncertainty Shocks?
This paper shows that uncertainty has an impact on the effectiveness of monetary policy shocks. As uncertainty increases, so does the risk that a restrictive forward guidance shock will increase rather than decrease stock prices. This effect can be seen not only in high-frequency variables, but a...
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Published in: | MAGKS - Joint Discussion Paper Series in Economics (Band 41-2020) |
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Main Author: | |
Format: | Article |
Language: | English |
Published: |
Philipps-Universität Marburg
2020
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Subjects: | |
Online Access: | PDF Full Text |
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PDF Full TextCall Number: |
urn:nbn:de:hebis:04-es2024-06682 |
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Publication Date: |
2024-01-19 |
Downloads: |
45 (2024) |
License: |
https://creativecommons.org/publicdomain/mark/1.0 |
Access URL: |
https://archiv.ub.uni-marburg.de/es/2024/0668 https://doi.org/10.17192/es2024.0668 |