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The impact of monetary policy candidness on Australian financial markets

  • Gasbarro, Dominic
  • Monroe, Gary S.
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    File URL: http://www.sciencedirect.com/science/article/B6VGV-49BY4BT-1/2/149a881919e94c9429c211979db5b69b
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    Article provided by Elsevier in its journal Journal of Multinational Financial Management.

    Volume (Year): 14 (2004)
    Issue (Month): 1 (February)
    Pages: 35-46

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    Handle: RePEc:eee:mulfin:v:14:y:2004:i:1:p:35-46
    Contact details of provider: Web page: http://www.elsevier.com/locate/mulfin

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    1. Daniel L. Thornton, 1986. "The discount rate and market interest rates: theory and evidence," Review, Federal Reserve Bank of St. Louis, issue Aug, pages 5-21.
    2. Fama, Eugene F. & French, Kenneth R., 1989. "Business conditions and expected returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 25(1), pages 23-49, November.
    3. Mishkin, Frederic S., 1990. "What does the term structure tell us about future inflation?," Journal of Monetary Economics, Elsevier, vol. 25(1), pages 77-95, January.
    4. Frederic S. Mishkin, 1991. "The Information in the Longer Maturity Term Structure about Future Inflation," NBER Working Papers 3126, National Bureau of Economic Research, Inc.
    5. Stephen K. McNees, 1993. "The discount rate: the other tool of monetary policy," New England Economic Review, Federal Reserve Bank of Boston, issue Jul, pages 3-22.
    6. Douglas K. Pearce & V. Vance Roley, 1984. "Stock Prices and Economic News," NBER Working Papers 1296, National Bureau of Economic Research, Inc.
    7. M. L. Kliman, 1974. "The Administered Bank Rate and Its Announcement Effect," Canadian Journal of Economics, Canadian Economics Association, vol. 7(4), pages 625-41, November.
    8. V. Vance Roley & Rick Troll, 1984. "The impact of discount rate changes on market interest rates," Economic Review, Federal Reserve Bank of Kansas City, issue Jan, pages 27-39.
    9. Daniel L. Thornton, 1992. "Why do T-bill rates react to discount rate changes?," Working Papers 1992-004, Federal Reserve Bank of St. Louis.
    10. Willem Thorbecke, 1995. "On Stock Market Returns and Monetary Policy," Economics Working Paper Archive wp_139, Levy Economics Institute.
    11. Dotsey, Michael, 1991. "Open Market Operations in Australia: A U.S. Perspective," The Economic Record, The Economic Society of Australia, vol. 67(198), pages 243-56, September.
    12. Jensen, Gerald R. & Mercer, Jeffrey M. & Johnson, Robert R., 1996. "Business conditions, monetary policy, and expected security returns," Journal of Financial Economics, Elsevier, vol. 40(2), pages 213-237, February.
    13. Frank Campbell & Eleanor Lewis, 1998. "What Moves Yields in Australia?," RBA Research Discussion Papers rdp9808, Reserve Bank of Australia.
    14. Ammer, John & Campbell, John, 1993. "What Moves the Stock and Bond Markets? A Variance Decomposition for Long-Term Asset Returns," Scholarly Articles 3382857, Harvard University Department of Economics.
    15. Marvin Goodfriend, 1990. "Interest rates and the conduct of monetary policy," Working Paper 90-06, Federal Reserve Bank of Richmond.
    16. R.W. Hafer, 1986. "The response of stock prices to changes in weekly money and the discount rate," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 5-14.
    17. Michael J. Dueker, 1992. "The response of market interest rates to discount rate changes," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 78-91.
    18. Chen, Carl R. & Mohan, Nancy J. & Steiner, Thomas L., 1999. "Discount rate changes, stock market returns, volatility, and trading volume: Evidence from intraday data and implications for market efficiency," Journal of Banking & Finance, Elsevier, vol. 23(6), pages 897-924, June.
    19. Cook, Timothy & Hahn, Thomas, 1988. "The Information Content of Discount Rate Announcements and Their Effect on Market Interest Rates," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(2), pages 167-80, May.
    20. Carmichael, Jeffrey & Harper, Ian R., 1995. "Implementing monetary policy in a deregulated financial system: A study of the Australian official short-term money market," Pacific-Basin Finance Journal, Elsevier, vol. 3(4), pages 409-428, December.
    21. Hakkio, Craig S. & Pearce, Douglas K., 1992. "Discount rate policy under alternative operating procedures: An empirical investigation," International Review of Economics & Finance, Elsevier, vol. 1(1), pages 55-72.
    22. Smirlock, Michael J & Yawitz, Jess B, 1985. " Asset Returns, Discount Rate Changes, and Market Efficiency," Journal of Finance, American Finance Association, vol. 40(4), pages 1141-58, September.
    23. Hardouvelis, Gikas A., 1987. "Macroeconomic information and stock prices," Journal of Economics and Business, Elsevier, vol. 39(2), pages 131-140, May.
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