| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13101 |
| 来源ID | Working Paper 13101 |
| Do Markets Care Who Chairs the Central Bank? | |
| Kenneth N. Kuttner; Adam S. Posen | |
| 发表日期 | 2007-05-17 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | 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. |
| 主题 | Macroeconomics ; Monetary Policy ; Fiscal Policy ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w13101 |
| 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/570769 |
| 推荐引用方式 GB/T 7714 | Kenneth N. Kuttner,Adam S. Posen. Do Markets Care Who Chairs the Central Bank?. 2007. |
| 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 | ||
| w13101.pdf（206KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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