Data and Code for: Oil, Equities, and the Zero Lower Bound
收藏ICPSR2021-01-01 更新2026-04-16 收录
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https://www.openicpsr.org/openicpsr/project/115982/version/V1/view
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资源简介：
From late 2008 to 2014, oil and equity returns were more positively correlated than in other periods. In addition, we show that both oil and equity returns became more responsive to macroeconomic news. We provide empirical evidence that these changes resulted from the zero lower bound (ZLB) on nominal interest rates, consistent with the theoretical predictions of a model that includes the ZLB. Although the ZLB alters the economic environment in theory, supportive empirical evidence has been lacking. Our paper provides clear evidence of the ZLB altering the economic environment.
提供机构：
Board of Governors of the Federal Reserve System; Federal Reserve Board, Spotify
创建时间：
2021-01-01
