How Informative are Financial Asset Prices in Spain?

This paper analyses the informational content of financial prices in Spain, mainly from the viewpoint of a central bank. In particular, we examine the informational content of domestic yields and yield spreads, foreign-domestic spreads, credit quality spreads, stock prices and exchange rates on the inflation rate, the 3-month interest rate and output. Three alternative empirical approaches are considered.

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Year of publication:	1997
Authors:	Alonso, Francisco ; Ayuso, Juan ; Pagés, Jorge Martínez
Institutions:	Banco de España
Subject:	CENTRAL BANKS \| STOCKS \| INFORMATION

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Series:	Banco de España Working Papers.
Type of publication:	Book / Working Paper
Notes:	53 pages
Classification:	E58 - Central Banks and Their Policies ; G12 - Asset Pricing ; G14 - Information and Market Efficiency; Event Studies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005088325