National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
Do markets notice economic policymaker changes? An event study
Cvejn, Michal ; Klosová, Anna (advisor) ; Meeusen, Wim (referee)
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.

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