Ehrmann, Michael (contributor); … - 2006
.
Ehrmann, Fratzscher and Rigobon (2005) estimate effects of monetary policy on stock
markets for the euro area and the United … States. They find that euro area stock
markets drop by nearly 2% in response to a 100 bp tightening in the United States on …
the same day. By contrast, euro area monetary policy affects US stock markets to a
much smaller extent, at 0.5%.
2 …