Original title: Do markets notice economic policymaker changes? An event study
Translated title: Do markets notice economic policymaker changes? An event study
Authors: Cvejn, Michal ; Klosová, Anna (advisor) ; Meeusen, Wim (referee)
Document type: Master’s theses
Year: 2012
Language: eng
Publisher: Vysoká škola ekonomická v Praze
Abstract: 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.
Keywords: economic policymaker change; elections; event study; political uncertainty; economic policymaker change; elections; event study; political uncertainty

Institution: University of Economics, Prague (web)
Document availability information: Available in the digital repository of the University of Economics, Prague.
Original record: http://www.vse.cz/vskp/eid/34095

Permalink: http://www.nusl.cz/ntk/nusl-135903


The record appears in these collections:
Universities and colleges > Public universities > University of Economics, Prague
Academic theses (ETDs) > Master’s theses