WebNov 20, 2024 · Abstract. We identify a component of monetary policy news that is extracted from high-frequency changes in risky asset prices. These surprises, which we call "risk shifts", are uncorrelated, and therefore complementary, to risk-free rate surprises. We show that (i) risk shifts capture the lion's share of stock price movements around FOMC ... WebSchmeling, Maik & Wagner, Christian, 2024. "Does Central Bank Tone Move Asset Prices?," CEPR Discussion Papers 13490, C.E.P.R. Discussion Papers. ... "Central Bank Tone and the Dispersion of Views within Monetary Policy Committees," Documents de Travail de l'OFCE 2024-02, Observatoire Francais des Conjonctures Economiques (OFCE).
Does Central Bank Tone Move Asset Prices? - Semantic Scholar
WebFeb 1, 2024 · Does Central Bank Tone Move Asset Prices? Article. Jan 2015; Maik Schmeling; Christian Wagner; We explore whether the tone of central bank communication matters for asset prices and find that tone ... WebDoes Central Bank Tone Move Asset Prices? Article. Jan 2015; Maik Schmeling; Christian Wagner; We explore whether the tone of central bank communication matters for asset prices and find that tone ... magic keyboard for mac
Does Central Bank Tone Move Asset Prices? - Research …
WebA positive tone could be linked to a higher level and a more pronounced hump of the yield curve. The research posits that tone affects asset prices via their risk premium … WebJan 1, 2015 · Abstract. We explore whether the tone of central bank communication matters for asset prices and find that tone changes have a significant effect on equity … Webfor policy actions as well as for monetary policy and central bank information shocks. Our results suggest that communication tone is a powerful instrument of monetary policy, which a ects risk premia embedded in asset prices. JEL Classi cation: G10, G12, E43, E44, … magic keyboard for 99 bucks