ΗΜΕΡΙΔΕΣ - ΣΕΜΙΝΑΡΙΑ

RESEARCH SEMINAR 4/5/2022: "THE IMPACT OF MONETARY POLICY ON STOCK PRICES: PUTTING THE PEDAL TO THE METAL OR LOSING STEAM?" (BY CARLO ROSA)

Wednesday 04 Μαΐου 2022

Research Seminar Series in Economic Sciences, 2021-2022

Speaker: Carlo RosaSenior Lecturer, University of Calabria, Cosenza, Italy

Webpage:https://sites.google.com/view/carlorosa

Title: The Impact of Monetary Policy on Stock Prices: Putting the Pedal to the Metal or Losing Steam?

Date & Time: Wednesday, May 4th, 2022, 19:00 - 20:30  

Webex Link:https://uoa.webex.com/uoa/j.php?MTID=m6f2d44769f2375bf2090852c432d9ac6

Url: http://www.econ.uoa.gr/ereynhtika-seminaria-research-seminars.html

Abstract:  This paper examines the impact of conventional and unconventional monetary policy on US stock prices using an event study with intraday data. Three indicators of monetary policy surprises are constructed: the surprise change in the current federal funds target rate, forward guidance, and large‐scale asset purchases. Estimation results show that all three types of monetary surprises have economically important and highly significant effects on asset prices. While conventional policy was weaker during the financial crisis, unconventional policy was highly effective. This work also documents that the financial market impact of monetary policy across US stocks is heterogeneous.

Organizers: Dimitris Kenourgios, Professor

                     George Dotsis, Assoc. Professor

                     Frago Kourandi, Assist. Professor

https://www.econ.uoa.gr/anakoinoseis_kai_ekdiloseis/proboli_ekdilosis/research_seminar_452022_the_impact_of_monetary_policy_on_stock_prices_putting_the_pedal_to_the-1/