학술논문
RESPONSE OF FINANCIAL MARKETS TO ADJUSTMENTS IN THE BANK OF ENGLAND'S TARGET INTEREST RATE
이용수 2
- 영문명
- 발행기관
- People & Global Business Association
- 저자명
- Jeff Madura Oliver Schnusenberg
- 간행물 정보
- 『Global Business and Finance Review』Vol.5 No.2, 1~12쪽, 전체 11쪽
- 주제분류
- 경제경영 > 경영학
- 파일형태
- 발행일자
- 2000.12.31
4,120원
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국문 초록
영문 초록
Our general objective is to measure the responsiveness of financial market participants to the Bank of England's target interest rate adjustments. Using official Bank of England interest rate data from 1975 to 1996, we find that British money market interest rate movements are positively and significantly related to the Bank of England's target interest rate adjustments. Furthermore, the degree of response is conditional on whether its meeting dates were known in advance. We also find that British money market interest rates move in tandem with the Bank of England's target interest rate adjustment prior to the adjustment., Furthermore, the Bank of England's adjustments are inversely and significantly related to British equity returns, although the degree of sensitivity of equity returns is conditioned on the direction of the adjustment in target interest rates.
목차
Abstract
INTRODUCTION
REVIEW AND LITERATURE
DATA
SENSITIVITY OF INTEREST RATES TO ADJUSTMENTS IN THE BANK OF ENGLAND'S TARGET INTEREST RATE
SENSITIVITY OF MARKET INTEREST RATES TO ADJUSTMENTS IN THE BANK OF ENGLAND'S TARGET INTEREST RATE BEFORE VERSUS AFTER 1993
MOVEMENTS OF BRITISH MONEY MARKET INTEREST RATES PRIOR TO THE BANK OF ENGLAND'S TARGET INTEREST RATE ADJUSTMENTS
THE EFFECT OF BANK OF ENGLAND TARGET INTEREST RATE CHANGES ON BRITISH STOCKS
SUMMARY AND CONCLUSION
키워드
해당간행물 수록 논문
- INTERTEMPORAL APPROACH TO THE CURRENT ACCOUNT: EVIDENCE FROM SAUDI ARABIA, 1969-1997
- CAPITAL STRUCTURE AND PRODUCT MARKET INTERACTION: AN INTERNATIONAL PERSPECTIVE
- A PRELIMINARY INVESTIGATION OF THE EFFECTS OF EXCHANGE RATES ON NATIONAL EQUITY MARKET RELATIONSHIPS
- STRATEGIC ENTREPRENEURIALISM IN ANALYSIS: GLOBAL PROBLEMS IN RESEARCH
- LEVEL OF EXPOSURE TO GLOBAL TRADE FLOWS: WHERE DOES THE U.S. ECONOMY STAND?
- INVESTIGATING THE DECISION TO EXPORT TO MEXICO BY MEDIUM-SIZE U.S. INSTRUMENT MANUFACTURERS
- OVERREACTION AND SHORT-TERM MARKET FACTORS IN THE INTEREST RATE FUTURES MARKETS
- RESPONSE OF FINANCIAL MARKETS TO ADJUSTMENTS IN THE BANK OF ENGLAND'S TARGET INTEREST RATE
- THE KOREAN FINANCIAL CRISIS OF 1997: CAUSES AND POLICY RESPONSES
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