Showing 1 - 10 of 25,894
We examine how Bank of Canada communications and media reporting on them impacts Canadian bond and stock market returns. Official communications exert a relatively larger influence on the bond market, whereas media coverage is more relevant for the stock market.
Persistent link: https://www.econbiz.de/10010572174
In this paper we analyse the relation between the EUR/HUF exchange rate, economic fundamentals and FX market transactions. Our results are in line with international experiences: the effect of macroeconomic announcements is transmitted to the exchange rate partly directly, with an immediate...
Persistent link: https://www.econbiz.de/10005562403
We analyze the influence of US monetary policy on commodity price volatility. Expected target rate changes and communications decrease volatility, whereas target rate surprises and unorthodox measures increase it. The “calming” effect of communication is reduced during the financial crisis.
Persistent link: https://www.econbiz.de/10011041671
In today’s interrelated economies, financial information travel at speed of light to reach investors around the globe. Global financial markets experience regular shocks that transmit negative waves to other equity markets and different asset classes. Given the unique characteristics of...
Persistent link: https://www.econbiz.de/10011884162
Stock returns in emerging markets are to some extent predictable on the basis of selected instrument variables. We show that local information is more important than global information to capture emerging stock market returns. This is an indication for at least partial segmentation of emerging...
Persistent link: https://www.econbiz.de/10005427449
This study examines the usefulness to investors of the “monetary correction” (corrección monetaria) required under Chilean accounting standards. The monetary correction arises when nonmonetary assets and liabilities and owners’ equity are restated for changes in the purchasing power of...
Persistent link: https://www.econbiz.de/10005736353
In the 90s, Mexican firms issued more than ever American Depository Receipts (ADRs), i.e, certificates of Mexican stocks, traded in U.S. markets and managed by U.S. depositories. This paper is about testing the top Mexican firms’ ADR for ability to: a) replicate the ups and downs of U.S....
Persistent link: https://www.econbiz.de/10005698236
This study examines the return behavior of 15 emerging equity markets for persistent deviations from the fundamental value hypothesis. The duration dependence test shows that rational expectations bubble do not cause deviations from fundamental value in any of the markets. Markov chain test...
Persistent link: https://www.econbiz.de/10004977580
This paper investigates whether daily stock price indices from fourteen emerging markets are random walk (unit root) or mean reverting long memory processes. We use an efficient statistical framework that tests for random walks in the presence of multiple structural breaks at unknown dates. This...
Persistent link: https://www.econbiz.de/10012610955
In today's interrelated economies, financial information travel at speed of light to reach investors around the globe. Global financial markets experience regular shocks that transmit negative waves to other equity markets and different asset classes. Given the unique characteristics of...
Persistent link: https://www.econbiz.de/10011996132