What Explains the Stock Market's Reaction to Federal Reserve Policy?
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This paper analyzes the impact of changes in monetary policy on equity prices, with the objectives both of measuring the average reaction of the stock market and also of understanding the economic sources of that reaction. We find that, on average, a hypothetical unanticipated 25-basis-point cut in
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美国国家经济研究局创建时间：
2004-04-01
