| Description |
1 online resource (46 pages) |
| Series |
IMF working paper ; WP/11/183 |
|
IMF working paper ; WP/11/183.
|
| Contents |
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Data; III. Specification; IV. Financial Sector Reform Results; A. Baseline Regressions; 1a: Bank Excess Returns: Basic Regressions; 1b: Bank Excess Returns: Bank Characteristics; 1c: Bank Excess Returns: Bank Characteristics and Other Financial Conditions; B. Policy Impact: Swaps; C. Financial regulation; D. Monetary and Fiscal Policies; 2a: Foreign Bond Yields: Basic Regression; 2b: Foreign Bond Yields: Including Other Financial Conditions; 3a: Bilateral Exchange Rates: Basic Regression |
|
3b: Bilateral Exchange Rates: Including Other Financial Conditions4a: Nominal Effective Exchange Rates: Basic Regression; 4b: Nominal Effective Exchange Rates: Including Other Financial Conditions; E. Equity Market Correlations; 5a: Foreign Equity Returns: Basic Regression; 5b: Foreign Equity Returns: Including Other Financial Conditions; F. Results using indicators of macro, monetary, and fiscal conditions; 6a: Real Economy: Basic Regressions; 6b: Real Economy: Conditions Included; 6c: Monetary and Fiscal Conditions: Basic Regressions; 6d: Monetary and Fiscal Conditions: Conditions Included |
|
7. Correlations Daily Changes in Financial Conditions8. Correlations Daily Changes in Financial Conditions; G. Robustness Checks; V. Conclusions; Data Sources and Event Descriptions; A1: Foreign Bond Yields: Basic Regression -- Post-Lehman; A2: Bilateral Dollar Exchange Rates: Basic Regression -- Post-Lehman; A3: Real Economy: Basic Regressions -- Post-Lehman; A4: Foreign Bond Yields: Basic Regression -- 2-day Window; A5: Bilateral Dollar Exchange Rates: Basic Regression -- 2-day Window; A6: Real Economy: Basic Regressions -- 2-day Window; A7: Foreign Bond Yields: Basic Regression -- 5-day Window |
|
A8: Bilateral Dollar Exchange Rates: Basic Regression -- 5-day WindowA9: Real Economy: Basic Regressions -- 5-day Window; A10: Foreign Bond Yields: Basic Regression -- 10-day Window; A11: Bilateral Dollar Exchange Rates: Basic Regression -- 10-day Window; A12: Real Economy: Basic Regressions -- 10-day Window; References; Footnotes |
| Summary |
Event studies are used to analyze the impact of U.S. financial, fiscal, and monetary policies from US to foreign asset prices across a range of G20 countries and Switzerland. The initial announcement that the Administration supported tighter regulation of banks led to a generalized fall in advanced economy bank shares compared to local equity markets. For later Dodd-Frank announcements, however, falls in U.S. bank equity prices were accompanied by increases in U.K. and Swiss valuations, implying a potential for regulatory arbitrage. Turning to macro policies, the 2008/9 fiscal and monetary stimulus packages generally supported foreign activity, while the impact of similar stimulus in 2010 is less clear |
| Notes |
At head of title: Strategy, Policy, and Review Department |
|
Title from PDF title page (IMF Web site, viewed September 12, 2011) |
|
"August 2011." |
| Bibliography |
Includes bibliographical references |
| Notes |
English |
| Subject |
Assets (Accounting) -- Prices -- United States
|
|
Assets (Accounting) -- Prices -- Europe
|
|
Assets (Accounting) -- Prices
|
|
Economic policy
|
| SUBJECT |
United States -- Economic policy.
http://id.loc.gov/authorities/subjects/sh85140033
|
| Subject |
Europe
|
|
United States
|
| Form |
Electronic book
|
| Author |
Bui, Trung, author.
|
|
International Monetary Fund. Strategy, Policy, and Review Department, issuing body.
|
| ISBN |
1283566303 |
|
9781283566308 |
|
9781463900526 |
|
146390052X |
|
1463900538 |
|
9781463900533 |
|
1463901941 |
|
9781463901943 |
|
9786613878755 |
|
6613878758 |
|
