How Long to Read Identifying the Interdependence Between US Monetary Policy and the Stock Market

How Long Does it Take to Read Identifying the Interdependence Between US Monetary Policy and the Stock Market?

It takes the average reader and 43 minutes to read Identifying the Interdependence Between US Monetary Policy and the Stock Market by Hilde C. Bjørnland

Assuming a reading speed of 250 words per minute. Learn more

Description

We estimate the interdependence between US monetary policy and the S & P 500 using structural VAR methodology. A solution is proposed to the simultaneity problem of identifying monetary and stock price shocks by using a combination of short-run and long-run restrictions that maintains the qualitative properties of a monetary policy shock found in the established literature (CEE 1999). We find great interdependence between interest rate setting and stock prices. Stock prices immediately fall by 1.5 per cent due to a monetary policy shock that raises the federal funds rate by ten basis points. A stock price shock increasing stock prices by one per cent leads to an increase in the interest rate of five basis points. Stock price shocks are orthogonal to the information set in the VAR model and can be interpreted as non-fundamental shocks. We attribute a major part of the surge in stock prices at the end of the 1990s to these non-fundamental shocks.

How long is Identifying the Interdependence Between US Monetary Policy and the Stock Market?

Identifying the Interdependence Between US Monetary Policy and the Stock Market by Hilde C. Bjørnland is 43 pages long, and a total of 10,879 words.

This makes it 15% the length of the average book. It also has 13% more words than the average book.

How Long Does it Take to Read Identifying the Interdependence Between US Monetary Policy and the Stock Market Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 59 minutes to read Identifying the Interdependence Between US Monetary Policy and the Stock Market aloud.

What Reading Level is Identifying the Interdependence Between US Monetary Policy and the Stock Market?

Identifying the Interdependence Between US Monetary Policy and the Stock Market is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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