| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29827 |
| 来源ID | Working Paper 29827 |
| Stock Market Stimulus | |
| Robin Greenwood; Toomas Laarits; Jeffrey Wurgler | |
| 发表日期 | 2022-03-14 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of retail-dominated portfolios. The Hong Kong payments increased overall market turnover and share prices in Hong Kong and mainland Chinese markets, especially in large-cap portfolios. We cannot rule out that these price effects were permanent. The findings raise novel questions about the role of fiscal stimulus in the stock market. |
| 主题 | Macroeconomics ; Fiscal Policy ; Financial Economics ; Financial Markets ; Corporate Finance ; Behavioral Finance ; COVID-19 |
| URL | https://www.nber.org/papers/w29827 |
| 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/587500 |
| 推荐引用方式 GB/T 7714 | Robin Greenwood,Toomas Laarits,Jeffrey Wurgler. Stock Market Stimulus. 2022. |
| 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 | ||
| w29827.pdf（1769KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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