Do markets care who chairs the central bank?:
This paper assesses the effects of central bank governor appointments on financial market expectations of monetary policy. To measure these effects, we assemble a new dataset of appointment announcements from 15 countries, and conduct an event study analysis on exchange rates, bond yields, and stock...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
13101 |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper assesses the effects of central bank governor appointments on financial market expectations of monetary policy. To measure these effects, we assemble a new dataset of appointment announcements from 15 countries, and conduct an event study analysis on exchange rates, bond yields, and stock prices. The analysis reveals a significant reaction of exchange rates and bond yields to unexpected appointments. The reactions are not unidirectional, and thus do not suggest new governors suffer from a generic credibility problem. Federal Reserve chairman appointments stand out in terms of their unusually pronounced effects on financial markets. |
| Beschreibung: | Literaturverz. S. 28 - 29 |
| Beschreibung: | 37 S. graph. Darst. 22 cm |
Internformat
MARC
| LEADER | 00000nam a2200000zcb4500 | ||
|---|---|---|---|
| 001 | BV023593012 | ||
| 003 | DE-604 | ||
| 005 | 20080327000000.0 | ||
| 007 | t | ||
| 008 | 070907s2007 xxud||| |||| 00||| eng d | ||
| 035 | |a (OCoLC)255914739 | ||
| 035 | |a (DE-599)GBV530585162 | ||
| 040 | |a DE-604 |b ger | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-521 | ||
| 050 | 0 | |a HB1 | |
| 100 | 1 | |a Kuttner, Kenneth N. |d 1960- |e Verfasser |0 (DE-588)123326206 |4 aut | |
| 245 | 1 | 0 | |a Do markets care who chairs the central bank? |c Kenneth N. Kuttner ; Adam S. Posen |
| 264 | 1 | |a Cambridge, Mass. |b National Bureau of Economic Research |c 2007 | |
| 300 | |a 37 S. |b graph. Darst. |c 22 cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 13101 | |
| 500 | |a Literaturverz. S. 28 - 29 | ||
| 520 | 8 | |a This paper assesses the effects of central bank governor appointments on financial market expectations of monetary policy. To measure these effects, we assemble a new dataset of appointment announcements from 15 countries, and conduct an event study analysis on exchange rates, bond yields, and stock prices. The analysis reveals a significant reaction of exchange rates and bond yields to unexpected appointments. The reactions are not unidirectional, and thus do not suggest new governors suffer from a generic credibility problem. Federal Reserve chairman appointments stand out in terms of their unusually pronounced effects on financial markets. | |
| 700 | 1 | |a Posen, Adam Simon |d 1966- |e Verfasser |0 (DE-588)124012795 |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 810 | 2 | |a National Bureau of Economic Research <Cambridge, Mass.> |t NBER working paper series |v 13101 |w (DE-604)BV002801238 |9 13101 | |
| 856 | 4 | 1 | |u http://papers.nber.org/papers/w13101.pdf |z kostenfrei |3 Volltext |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-016908342 | ||
Datensatz im Suchindex
| _version_ | 1804138252089688064 |
|---|---|
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Kuttner, Kenneth N. 1960- Posen, Adam Simon 1966- |
| author_GND | (DE-588)123326206 (DE-588)124012795 |
| author_facet | Kuttner, Kenneth N. 1960- Posen, Adam Simon 1966- |
| author_role | aut aut |
| author_sort | Kuttner, Kenneth N. 1960- |
| author_variant | k n k kn knk a s p as asp |
| building | Verbundindex |
| bvnumber | BV023593012 |
| callnumber-first | H - Social Science |
| callnumber-label | HB1 |
| callnumber-raw | HB1 |
| callnumber-search | HB1 |
| callnumber-sort | HB 11 |
| callnumber-subject | HB - Economic Theory and Demography |
| ctrlnum | (OCoLC)255914739 (DE-599)GBV530585162 |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01925nam a2200349zcb4500</leader><controlfield tag="001">BV023593012</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20080327000000.0</controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">070907s2007 xxud||| |||| 00||| eng d</controlfield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)255914739</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBV530585162</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-521</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HB1</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Kuttner, Kenneth N.</subfield><subfield code="d">1960-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)123326206</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Do markets care who chairs the central bank?</subfield><subfield code="c">Kenneth N. Kuttner ; Adam S. Posen</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Cambridge, Mass.</subfield><subfield code="b">National Bureau of Economic Research</subfield><subfield code="c">2007</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">37 S.</subfield><subfield code="b">graph. Darst.</subfield><subfield code="c">22 cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="1" ind2=" "><subfield code="a">Working paper series / National Bureau of Economic Research</subfield><subfield code="v">13101</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Literaturverz. S. 28 - 29</subfield></datafield><datafield tag="520" ind1="8" ind2=" "><subfield code="a">This paper assesses the effects of central bank governor appointments on financial market expectations of monetary policy. To measure these effects, we assemble a new dataset of appointment announcements from 15 countries, and conduct an event study analysis on exchange rates, bond yields, and stock prices. The analysis reveals a significant reaction of exchange rates and bond yields to unexpected appointments. The reactions are not unidirectional, and thus do not suggest new governors suffer from a generic credibility problem. Federal Reserve chairman appointments stand out in terms of their unusually pronounced effects on financial markets.</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Posen, Adam Simon</subfield><subfield code="d">1966-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)124012795</subfield><subfield code="4">aut</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe</subfield></datafield><datafield tag="810" ind1="2" ind2=" "><subfield code="a">National Bureau of Economic Research <Cambridge, Mass.></subfield><subfield code="t">NBER working paper series</subfield><subfield code="v">13101</subfield><subfield code="w">(DE-604)BV002801238</subfield><subfield code="9">13101</subfield></datafield><datafield tag="856" ind1="4" ind2="1"><subfield code="u">http://papers.nber.org/papers/w13101.pdf</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-016908342</subfield></datafield></record></collection> |
| id | DE-604.BV023593012 |
| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:31Z |
| indexdate | 2024-07-09T21:25:14Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016908342 |
| oclc_num | 255914739 |
| open_access_boolean | 1 |
| owner | DE-521 |
| owner_facet | DE-521 |
| physical | 37 S. graph. Darst. 22 cm |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series2 | Working paper series / National Bureau of Economic Research |
| spelling | Kuttner, Kenneth N. 1960- Verfasser (DE-588)123326206 aut Do markets care who chairs the central bank? Kenneth N. Kuttner ; Adam S. Posen Cambridge, Mass. National Bureau of Economic Research 2007 37 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13101 Literaturverz. S. 28 - 29 This paper assesses the effects of central bank governor appointments on financial market expectations of monetary policy. To measure these effects, we assemble a new dataset of appointment announcements from 15 countries, and conduct an event study analysis on exchange rates, bond yields, and stock prices. The analysis reveals a significant reaction of exchange rates and bond yields to unexpected appointments. The reactions are not unidirectional, and thus do not suggest new governors suffer from a generic credibility problem. Federal Reserve chairman appointments stand out in terms of their unusually pronounced effects on financial markets. Posen, Adam Simon 1966- Verfasser (DE-588)124012795 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13101 (DE-604)BV002801238 13101 http://papers.nber.org/papers/w13101.pdf kostenfrei Volltext |
| spellingShingle | Kuttner, Kenneth N. 1960- Posen, Adam Simon 1966- Do markets care who chairs the central bank? |
| title | Do markets care who chairs the central bank? |
| title_auth | Do markets care who chairs the central bank? |
| title_exact_search | Do markets care who chairs the central bank? |
| title_exact_search_txtP | Do markets care who chairs the central bank? |
| title_full | Do markets care who chairs the central bank? Kenneth N. Kuttner ; Adam S. Posen |
| title_fullStr | Do markets care who chairs the central bank? Kenneth N. Kuttner ; Adam S. Posen |
| title_full_unstemmed | Do markets care who chairs the central bank? Kenneth N. Kuttner ; Adam S. Posen |
| title_short | Do markets care who chairs the central bank? |
| title_sort | do markets care who chairs the central bank |
| url | http://papers.nber.org/papers/w13101.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT kuttnerkennethn domarketscarewhochairsthecentralbank AT posenadamsimon domarketscarewhochairsthecentralbank |