Financial Markets and ECB Monetary Policy Communication – A Second QE Surprise

This paper shows that a different communication style of the European Central Bank (ECB) affects stock prices differently. A break in the ECB’s communication from 2016 onwards makes it necessary to adjust the identification of monetary policy surprises in the euro area. By modifying the high-frequen...

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发表在:MAGKS - Joint Discussion Paper Series in Economics
主要作者: Baumgärtner, Martin
格式: 文件
语言:英语
出版: Philipps-Universität Marburg 2022
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