The influence of foreign monetary policy decisions on the volatility of the Irish stock market is investigated. Specifically, the influence of US monetary policy announcements on the ISEQ is examined. Evidence of the so-called calm before the storm is found, i.e., there appears to be a decline...

This paper examines the impact of a monetary policy shock on output, prices and the exchange rate for Ireland during its participation in the EMS. The paper draws on recent techniques used in the structural vector autoregression literature. Results suggest that an exogenous temporary increase in...

In this paper we investigate the stock market response to international monetary policy changes in the UK and Germany. Specifically, we analyse the impact of (un)expected changes in the UK and German|Euro area policy rates on the UK and German aggregate and sectoral equity returns in an event...

This paper analyzes the stability over time of the econometric process for euro-area inflation since 1970, focusing in particular on the behavior of the so-called persistence parameter (the sum of the coefficients on the lagged dependent variables). Perhaps surprisingly, in light of the Lucas...

This paper compares the investment characteristics between foreign funds operating under Qualified Foreign Institutional Investors (QFIIs) in China and domestic Chinese funds and analyzes the firm-level drivers that influence their allocation choices. The analysis reveals that foreign funds have...

This paper examines the relationship between investor sentiment and G7 stock market returns. Using a range of investor sentiment proxies, including investor survey, equity fund flow, closed-end equity fund (CEEF) discount and equity put-call ratio, we examine if investor sentiment has a...

The European Union Emissions Trading Scheme is the key policy instrument of the European Commission's Climate Change Program aimed at reducing greenhouse gas emissions to 8% below 1990 levels by 2012. The key asset traded under the scheme is the European Union allowance (EUA). This article...