scholarly journals Post-Brexit Stock Market Volatility and European Central Bank Reaction Function

2018 ◽  
Vol 6 (6) ◽  
pp. 237-241
Author(s):  
Nahid Kalbasi Anaraki
Keyword(s):  
Stock Market ◽  
Central Bank ◽  
European Central Bank ◽  
Market Volatility ◽  
Reaction Function ◽  
Stock Market Volatility ◽  
European Central

scholarly journals HOW DO THE ECB MEETINGS AFFECT THE STOCK VALUATIONS OF FOUR IBEX35 BANKS?

2021 ◽  
Vol 9 (3) ◽  
pp. 308-314
Author(s):  
Samer Ajour El Zain ◽  
Albert Montero ◽  
Reza Gheshmi ◽  
Cristina Tomas Perez
Keyword(s):  
Stock Market ◽  
Central Bank ◽  
European Central Bank ◽  
Data Sets ◽  
Important Data ◽  
European Central ◽  
Stock Market Valuations ◽  
Market Valuations ◽  
The Relationship ◽  
Correlation Table

Purpose: Analyze the data and draw there were any relevant conclusions between the meetings of the central bank and the movements of the banking corporations in the stock market. Methodology: To carry out this study, it was necessary to obtain two extremely important data sets (exact dates of the ECB meetings, stock market valuations of the four banking entities understudy). Both were obtained by searching on specialized websites. Then a comparison of the variations, a correlation table, which will allow us to mathematically affirm whether there is a linear relationship and proportionality between the variations of the banks or not, were analyzed. Main Findings: The results obtained indicate that such influence on the part of the European Central Bank on the financial entities listed on the IBEX35 does not exist, since the variations between bank shares are random and maybe would be better explained by other hypotheses or inputs. Application of Study: This work discards the hypothesis proposed by the student, although it manages to find other interesting relationships between banks because of the correlation analysis carried out in the analysis part of the work. Novelty/Originality: Establish the relationship between the meetings of the central bank and the movements of the banking corporations in the stock market.

scholarly journals Does central bank independence affect stock market volatility?

2017 ◽  
Vol 42 ◽  
pp. 855-864 ◽  
Author(s):  
Stephanos Papadamou ◽  
Moïse Sidiropoulos ◽  
Eleftherios Spyromitros
Keyword(s):  
Stock Market ◽  
Central Bank ◽  
Central Bank Independence ◽  
Market Volatility ◽  
Stock Market Volatility

Estimating the ECB Policy Reaction Function

2006 ◽  
Vol 7 (1) ◽  
pp. 1-34 ◽  
Author(s):  
Kai Carstensen
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Central Bank ◽  
European Central Bank ◽  
Probit Model ◽  
Ordered Probit ◽  
Reaction Function ◽  
Baseline Model ◽  
European Central ◽  
Policy Reaction Function

Abstract This paper estimates the policy reaction function of the European Central Bank in the first four years of EMU using an ordered probit model which accounts for the fact that central bank rates are set at multiples of 25 basis points. Starting from a baseline model which mimics the Taylor rule, the impacts of different economic variables on interest rate decisions are analysed. It is concluded that the monetary growth measure which was announced by the ECB as the first pillar of their monetary strategy does not play an outstanding role for the actual interest rate decisions. More sophisticated measures like the money overhang which uses information from both pillars are better suited. Overall, it is concluded that the revision of the monetary policy strategy in May 2003 which implied a downgrading of the first pillar will not induce any observable changes in monetary policy decisions.

Was für eine Europäische Verfassung?

2005 ◽  
Vol 35 (139) ◽  
pp. 287-300 ◽  
Author(s):  
Étienne Balibar
Keyword(s):  
Central Bank ◽  
European Central Bank ◽  
Social Rights ◽  
European Constitution ◽  
Fundamental Level ◽  
European Central

The problem of a European Constitution is discussed at a fundamental level. In which way, can we speak about such a Constitution? Thearticle argues against the “postnational souveranism”, legitimating state against citizens. A new kind of citizenship is favoured based on extended social rights. The constitution now proposed contrarily makes the European Central Bank and its neoliberal policy to central and nearly unchangeable institution.

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