Název:
Do markets notice economic policymaker changes? An event study
Překlad názvu:
Do markets notice economic policymaker changes? An event study
Autoři:
Cvejn, Michal ; Klosová, Anna (vedoucí práce) ; Meeusen, Wim (oponent) Typ dokumentu: Diplomové práce
Rok:
2012
Jazyk:
eng
Nakladatel: Vysoká škola ekonomická v Praze
Abstrakt: This paper applies event study analysis on stock and bond market data in 14 European countries between 1990 and 2012 in order to assess market reaction to key economic policymaker changes. The analysis relies on methodological framework is based on article of Kuttner & Posen (2010) and on an original database of political events. The empirical results show that policymaker changes are not reflected in markets as single-day events, rather they are associated with several days of increased volatility following the event. Furthermore, elections are shown to be linked with market volatility on the event day as well as in postevent period.
Klíčová slova:
economic policymaker change; elections; event study; political uncertainty; economic policymaker change; elections; event study; political uncertainty
Instituce: Vysoká škola ekonomická v Praze
(web)
Informace o dostupnosti dokumentu:
Dostupné v digitálním repozitáři VŠE. Původní záznam: http://www.vse.cz/vskp/eid/34095