Market Reactions to the Federal Reserve's Balance Sheet Normalization Plans

IF 4.6 Q2 MATERIALS SCIENCE, BIOMATERIALS
Sydney C. Ludvigson
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引用次数: 1

Abstract

ABSTRACT:This paper focuses on interpreting the stock market's reactions to Federal Reserve announcements about its balance sheet normalization plans, applying the methodology developed with Francesco Bianchi and Sai Ma. The results indicate that the stock market declines after announcements, suggesting perceived inflexibility in statements about balance sheet normalization, but many of the large reactions to these announcements can be ascribed to forces that move the stock market but not the broader economy.
市场对美联储资产负债表正常化计划的反应
摘要:本文运用弗朗西斯科·比安奇(Francesco Bianchi)和赛马(Sai Ma)共同开发的方法,对美联储宣布其资产负债表正常化计划后股市的反应进行了分析。结果表明,公告发布后,股市下跌,表明有关资产负债表正常化的声明缺乏灵活性,但对这些公告的许多重大反应可归因于推动股市的力量,而不是更广泛的经济。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
ACS Applied Bio Materials
ACS Applied Bio Materials Chemistry-Chemistry (all)
CiteScore
9.40
自引率
2.10%
发文量
464
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