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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Publicat a:MAGKS - Joint Discussion Paper Series in Economics
Autor principal: Baumgärtner, Martin
Format: Article
Idioma:anglès
Publicat: Philipps-Universität Marburg 2022
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