Daily monetary impulses and security prices

This paper uses Swiss data to study the real long-run effects of monetary policy. Daily unexpected changes in the monetary base are found to be negatively correlated with security price changes. This result is unaffected when, implicitly following Geske and Roll (1983), we try to measure the autonomous component of monetary policy by taking into account a reaction function of monetary policy to changes in real variables.

Iowa State Daily (July 5, 2012)

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Iowa State Daily (July 19, 2012)

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Iowa State Daily (July 26, 2012)

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Iowa State Daily (June 7, 2012)

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Iowa State Daily (June 14, 2012)

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Iowa State Daily (June 21, 2012)

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Iowa State Daily (June 28, 2012)

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Iowa State Daily (May 17, 2012)

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