Daily monetary impulses and security prices

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:

24 Jun 2016 13:17

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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