| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11041 |
| 来源ID | Working Paper 11041 |
| Do Currency Markets Absorb News Quickly? | |
| Martin D.D. Evans; Richard K. Lyons | |
| 发表日期 | 2005-01-17 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | This paper addresses whether macro news arrivals affect currency markets over time. The null from macro exchange-rate theory is that they do not: macro news is impounded in ex-change rates instantaneously. We test this by examining the effects of news on subsequent trades by end-user participants (such as hedge funds, mutual funds, and non-financial corporations). News arrivals induce subsequent changes in trading in all of the major end-user segments. These induced changes remain significant for days. Induced trades also have persistent effects on prices. Currency markets are not responding to news instantaneously. |
| 主题 | International Economics ; International Finance ; International Macroeconomics ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w11041 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/568676 |
| 推荐引用方式 GB/T 7714 | Martin D.D. Evans,Richard K. Lyons. Do Currency Markets Absorb News Quickly?. 2005. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w11041.pdf（350KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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