This article investigates the impact of domestic monetary policy rate announcements on the stock markets of New Zealand, Australia, the United Kingdom and the euro area, using event-study methods to identify stock price reactions to the unanticipated/surprise component of announcements. As...

This paper considers recent experience and proposals for enabling shocks to the banking system to be absorbed without the need for taxpayer funded bailouts. The paper argues that guarantees have an important but limited role to play in the financial safety net, when the operation of financial...