Loderer, Claudio; Lys, Thomas; Schweizer, Urs (1986). Daily monetary impulses and security prices. Journal of monetary economics, 18(1), pp. 33-47. Elsevier 10.1016/0304-3932(86)90053-X
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This paper uses Swiss data to study the real long-run effects of monetary policy. Daily unexpected changes in the monetary base are found to be negatively correlated with security price changes. This result is unaffected when, implicitly following Geske and Roll (1983), we try to measure the autonomous component of monetary policy by taking into account a reaction function of monetary policy to changes in real variables.
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Financial Management |
UniBE Contributor: |
Loderer, Claudio |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0304-3932 |
Publisher: |
Elsevier |
Language: |
English |
Submitter: |
Karin Dolder |
Date Deposited: |
06 Feb 2014 09:32 |
Last Modified: |
05 Dec 2022 14:27 |
Publisher DOI: |
10.1016/0304-3932(86)90053-X |
BORIS DOI: |
10.7892/boris.39599 |
URI: |
https://boris.unibe.ch/id/eprint/39599 |
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