Do markets notice economic policymaker changes? An event study
| Název práce: | Do markets notice economic policymaker changes? An event study |
|---|---|
| Autor(ka) práce: | Cvejn, Michal |
| Typ práce: | Diploma thesis |
| Vedoucí práce: | Klosová, Anna |
| Oponenti práce: | Meeusen, Wim |
| Jazyk práce: | English |
| Abstrakt: | This paper applies event study analysis on stock and bond market data in 14 European countries between 1990 and 2012 in order to assess market reaction to key economic policymaker changes. The analysis relies on methodological framework is based on article of Kuttner & Posen (2010) and on an original database of political events. The empirical results show that policymaker changes are not reflected in markets as single-day events, rather they are associated with several days of increased volatility following the event. Furthermore, elections are shown to be linked with market volatility on the event day as well as in postevent period. |
| Klíčová slova: | elections; political uncertainty; event study; economic policymaker change |
| Název práce: | Do markets notice economic policymaker changes? An event study |
|---|---|
| Autor(ka) práce: | Cvejn, Michal |
| Typ práce: | Diplomová práce |
| Vedoucí práce: | Klosová, Anna |
| Oponenti práce: | Meeusen, Wim |
| Jazyk práce: | English |
| Abstrakt: | This paper applies event study analysis on stock and bond market data in 14 European countries between 1990 and 2012 in order to assess market reaction to key economic policymaker changes. The analysis relies on methodological framework is based on article of Kuttner & Posen (2010) and on an original database of political events. The empirical results show that policymaker changes are not reflected in markets as single-day events, rather they are associated with several days of increased volatility following the event. Furthermore, elections are shown to be linked with market volatility on the event day as well as in postevent period. |
| Klíčová slova: | elections; political uncertainty; event study; economic policymaker change |
Informace o studiu
| Studijní program / obor: | Economics of Globalisation and European Integration |
|---|---|
| Typ studijního programu: | Magisterský studijní program |
| Přidělovaná hodnost: | Ing. |
| Instituce přidělující hodnost: | Vysoká škola ekonomická v Praze |
| Fakulta: | Fakulta mezinárodních vztahů |
| Katedra: | Katedra mezinárodního podnikání |
Informace o odevzdání a obhajobě
| Datum zadání práce: | 15. 6. 2012 |
|---|---|
| Datum podání práce: | 20. 12. 2012 |
| Datum obhajoby: | 7. 1. 2013 |
| Identifikátor v systému InSIS: | https://insis.vse.cz/zp/38131/podrobnosti |