EN
Stock Prices and Monetary Policy: An Impulse Response Analysis
Abstract
This paper analyses the relationship between monetary policy and the stock market with the aim of gaining new insights into the transmission mechanism of monetary policy. The empirical findings shed light on the importance of stock prices for money demand and therefore provide useful information to monetary authorities to decide on policy actions. A technique developed by Wickens and Motto (2001) for identifying shocks by estimating a VECM for the endogenous variables is employed. The reported evidence suggests that stock markets play a significant role in the money demand function.
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
September 1, 2013
Submission Date
September 1, 2013
Acceptance Date
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Published in Issue
Year 2013 Volume: 3 Number: 3
APA
Caporale, G. M., & Soliman, A. M. (2013). Stock Prices and Monetary Policy: An Impulse Response Analysis. International Journal of Economics and Financial Issues, 3(3), 701-709. https://izlik.org/JA64ZC43FH
AMA
1.Caporale GM, Soliman AM. Stock Prices and Monetary Policy: An Impulse Response Analysis. IJEFI. 2013;3(3):701-709. https://izlik.org/JA64ZC43FH
Chicago
Caporale, Guglielmo Maria, and Alaa M. Soliman. 2013. “Stock Prices and Monetary Policy: An Impulse Response Analysis”. International Journal of Economics and Financial Issues 3 (3): 701-9. https://izlik.org/JA64ZC43FH.
EndNote
Caporale GM, Soliman AM (September 1, 2013) Stock Prices and Monetary Policy: An Impulse Response Analysis. International Journal of Economics and Financial Issues 3 3 701–709.
IEEE
[1]G. M. Caporale and A. M. Soliman, “Stock Prices and Monetary Policy: An Impulse Response Analysis”, IJEFI, vol. 3, no. 3, pp. 701–709, Sept. 2013, [Online]. Available: https://izlik.org/JA64ZC43FH
ISNAD
Caporale, Guglielmo Maria - Soliman, Alaa M. “Stock Prices and Monetary Policy: An Impulse Response Analysis”. International Journal of Economics and Financial Issues 3/3 (September 1, 2013): 701-709. https://izlik.org/JA64ZC43FH.
JAMA
1.Caporale GM, Soliman AM. Stock Prices and Monetary Policy: An Impulse Response Analysis. IJEFI. 2013;3:701–709.
MLA
Caporale, Guglielmo Maria, and Alaa M. Soliman. “Stock Prices and Monetary Policy: An Impulse Response Analysis”. International Journal of Economics and Financial Issues, vol. 3, no. 3, Sept. 2013, pp. 701-9, https://izlik.org/JA64ZC43FH.
Vancouver
1.Guglielmo Maria Caporale, Alaa M. Soliman. Stock Prices and Monetary Policy: An Impulse Response Analysis. IJEFI [Internet]. 2013 Sep. 1;3(3):701-9. Available from: https://izlik.org/JA64ZC43FH