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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Published in: | MAGKS - Joint Discussion Paper Series in Economics |
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Main Author: | |
Format: | Article |
Language: | English |
Published: |
2022
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Subjects: | |
Online Access: | PDF Full Text |
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