Rules and Discretion in Monetary Policy: Is the Response of the Stock Market Rational?
We investigate the effects of the monetary policy conduct on the domestic capital market for a sample of developed countries where the capital market plays a significant role in the economy. We break down the policy rate innovations in rules-based and discretionary components in order to determine t...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Sprint Investify
2015-04-01
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| Series: | Expert Journal of Economics |
| Subjects: | |
| Online Access: | http://economics.expertjournals.com/wp-content/uploads/EJE_307marinescu50-62.pdf |