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International Evidence On The Stock Market And Aggregate Economic Activity
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Book Synopsis International Evidence on the Stock Market and Aggregate Economic Activity by : Lilian Ng
Download or read book International Evidence on the Stock Market and Aggregate Economic Activity written by Lilian Ng and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the Johansen cointegration technique, we find empirical evidence of long run co-movements between five national stock market indexes and measures of aggregate real activity including the real oil price, real consumption, real money, and real output. Real returns on these indexes are typically related to transitory deviations from the long run relationship and to changes in the macroeconomic variables. Further, the constraints implied by the cointegration results yield some incremental information on stock return variation that is not already contained in dividend yields, interest rate spreads and future GNP growth rates.
Book Synopsis International Evidence on the Stock Market and Aggregate Economic Activity by : Yin-Wong Cheung
Download or read book International Evidence on the Stock Market and Aggregate Economic Activity written by Yin-Wong Cheung and published by . This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis What Moves the Stock Market? by : Mei Dong
Download or read book What Moves the Stock Market? written by Mei Dong and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Some International Evidence on Stock Prices as Leading Indicators of Economic Activity by : Anthony Aylward
Download or read book Some International Evidence on Stock Prices as Leading Indicators of Economic Activity written by Anthony Aylward and published by . This book was released on 1995 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Relationship Between Stock Prices and Aggregate Economic Activity by : Joseph Falzon
Download or read book The Relationship Between Stock Prices and Aggregate Economic Activity written by Joseph Falzon and published by . This book was released on 2016-12-13 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Nexus Between the Economy, M&A Transactions and Investors' Behaviour by : Vikrant Gandotra
Download or read book The Nexus Between the Economy, M&A Transactions and Investors' Behaviour written by Vikrant Gandotra and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This research contributes to the much-debated literature existing on the relationship between the economy, merger and acquisitions (M&A), and investors' behaviour by empirically examining the relationship between aggregate M&A transactions, Real GDP and the stock market in the top nine countries with respect to M&A activity globally from the period 1999-2018. Interestingly, according to the cross-sectional dependence and slope heterogeneity tests conducted, the research finds that when a specific country's stock market, Real GDP or M&A activity is affected or influenced in some way, this may also have an affect or influence on the other countries considered in this research as well. Each of the nine countries have some common economic characteristics. Additionally, each country has its system with reference to how the stock market index(s), economic activity and M&A activities influence each other and operate individually. This indicates that an economic relationship between the variables in one country may not be replicated by the others. Furthermore, in a country-by-country causality analysis using the Toda and Yamamoto (1995) approach, the research finds considerable evidence in support of the behavioural school of thought where investors' behaviour and M&A activity seem to influence each other. Out of the nine countries investigated, six countries support the behavioural school of thought, i.e., show strong to moderate causality between M&A activity (number or value) and stock market price index. On the other hand, with reference to the neoclassical theory, surprisingly, there seems to exist a relationship between M&A activity and economic activity where M&A activity (number or value) leads economic activity in two out of the nine countries investigated. Finally, the research also suggests that economic activity seems to have an impact on how investors behave in six out of the nine countries investigated.
Book Synopsis Stock market firm-level information and real economic activity by : Filippo Di Mauro
Download or read book Stock market firm-level information and real economic activity written by Filippo Di Mauro and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis stock market development and long run growth by : Ross Levine
Download or read book stock market development and long run growth written by Ross Levine and published by World Bank Publications. This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cointegrating Relationships Between Stock Market Indices and Economic Activity by : David G. McMillan
Download or read book Cointegrating Relationships Between Stock Market Indices and Economic Activity written by David G. McMillan and published by . This book was released on 2001 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Macroeconomics for Professionals by : Leslie Lipschitz
Download or read book Macroeconomics for Professionals written by Leslie Lipschitz and published by Cambridge University Press. This book was released on 2019-01-23 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.
Book Synopsis Oil Price Uncertainty by : Apostolos Serletis
Download or read book Oil Price Uncertainty written by Apostolos Serletis and published by World Scientific Publishing Company Incorporated. This book was released on 2012 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between the price of oil and the level of economic activity is a fundamental issue in macroeconomics. There is an ongoing debate in the literature about whether positive oil price shocks cause recessions in the United States (and other oil-importing countries), and although there exists a vast empirical literature that investigates the effects of oil price shocks, there are relatively few studies that investigate the direct effects of uncertainty about oil prices on the real economy. The book uses recent advances in macroeconomics and financial economics to investigate the effects of oil price shocks and uncertainty about the price of oil on the level of economic activity.
Book Synopsis A New Database on Financial Development and Structure by : Thorsten Beck
Download or read book A New Database on Financial Development and Structure written by Thorsten Beck and published by World Bank Publications. This book was released on 1999 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.
Book Synopsis Money, Stock Prices and Central Banks by : Marcel Wiedmann
Download or read book Money, Stock Prices and Central Banks written by Marcel Wiedmann and published by Springer Science & Business Media. This book was released on 2011-05-05 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: This contribution applies the cointegrated vector autoregressive (CVAR) model to analyze the long-run behavior and short-run dynamics of stock markets across five developed and three emerging economies. The main objective is to check whether liquidity conditions play an important role in stock market developments. As an innovation, liquidity conditions enter the analysis from three angles: in the form of a broad monetary aggregate, the interbank overnight rate and net capital flows, which represent the share of global liquidity that arrives in the respective country. A second aim is to understand whether central banks are able to influence the stock market.
Book Synopsis Hysteresis and Business Cycles by : Ms.Valerie Cerra
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Book Synopsis Stock Market Liquidity in Chile by : Mr.Luis Brandao-Marques
Download or read book Stock Market Liquidity in Chile written by Mr.Luis Brandao-Marques and published by International Monetary Fund. This book was released on 2016-11-16 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile has a large but relatively illiquid stock market. Global factors such as global risk appetite and monetary policy in advanced economies are key cyclical determinants of liquidity in Chilean equities. Evidence from a cross-section of emerging markets suggests strong protection of minority shareholders can help improve stock market liquitidity. Currently, illiquid in Chilean may have to pay 31⁄2 percent more as cost of equity. Corporate governance should be improved, namely through the adoption of a stewardship code.
Book Synopsis Financial Economics and Econometrics by : Nikiforos T. Laopodis
Download or read book Financial Economics and Econometrics written by Nikiforos T. Laopodis and published by Taylor & Francis. This book was released on 2021-12-14 with total page 767 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Economics and Econometrics provides an overview of the core topics in theoretical and empirical finance, with an emphasis on applications and interpreting results. Structured in five parts, the book covers financial data and univariate models; asset returns; interest rates, yields and spreads; volatility and correlation; and corporate finance and policy. Each chapter begins with a theory in financial economics, followed by econometric methodologies which have been used to explore the theory. Next, the chapter presents empirical evidence and discusses seminal papers on the topic. Boxes offer insights on how an idea can be applied to other disciplines such as management, marketing and medicine, showing the relevance of the material beyond finance. Readers are supported with plenty of worked examples and intuitive explanations throughout the book, while key takeaways, ‘test your knowledge’ and ‘test your intuition’ features at the end of each chapter also aid student learning. Digital supplements including PowerPoint slides, computer codes supplements, an Instructor’s Manual and Solutions Manual are available for instructors. This textbook is suitable for upper-level undergraduate and graduate courses on financial economics, financial econometrics, empirical finance and related quantitative areas.