Does central bank independence affect stock market volatility?
نویسندگان
چکیده
منابع مشابه
The impact of Central bank independence on stock market volatility
The new paradigm in monetary policymaking gives accent to central banks‘ Independence. It is widely accepted that in modern monetary policymaking, central banks have three key goals: price stability, output stability and financial stability. Recent studies on central bank independence mainly investigate the effects of central bank independence on economic stability. But the effectiveness of cen...
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متن کاملDoes Stock Market Volatility Forecast Returns: The International Evidence
We use daily price indices obtained from the Morgan Stanley Capital International to construct realized volatility for 18 individual stock markets, including the US, and the world stock market. In contrast with the CAPM, we find that volatility by itself does not forecast excess returns in most countries; however, it becomes a significant predictor when combined with the US consumptionwealth ra...
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ژورنال
عنوان ژورنال: Research in International Business and Finance
سال: 2017
ISSN: 0275-5319
DOI: 10.1016/j.ribaf.2017.07.021