Assessing the impact of the ECB's monetary policy on the stock markets: a sectoral view

Research, Preprint English OPEN
Kholodilin, Konstantin Arkadievich ; Montagnoli, Alberto ; Napolitano, Oreste ; Siliverstovs, Boriss (2008)
  • Publisher: Deutsches Institut für Wirtschaftsforschung (DIW) Berlin
  • Related identifiers: doi: 10.3929/ethz-a-005717936
  • Subject: Europäische Wirtschafts- und Währungsunion | E52 | E44 | ECB | Börsenkurs | EU-Staaten | Europäische Zentralbank; MONETARY POLICY; ECB; STOCK EXCHANGES; BÖRSEN; GELDPOLITIK; Monetary policy; Stock markets | E47 | Monetary policy | Economics | Branche | Monetary policy, Stock markets, ECB | Stock markets | Geldpolitik | Schock
    • jel: jel:E52 | jel:E47 | jel:E44
      ddc: ddc:330

This paper analyzes the response of the European stock markets to the monetary policy shocks by the European Central Bank using the heteroskedasticity based approach of Rigobon (2003). We find that monetary policy tightening has a heterogeneous impact on the Euro Area s... View more
  • References (7)

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