Does central bank transparency affect stock market volatility?

dc.creator	Papadamou, S.	en
dc.creator	Sidiropoulos, M.	en
dc.creator	Spyromitros, E.	en
dc.date.accessioned	2015-11-23T10:42:44Z
dc.date.available	2015-11-23T10:42:44Z
dc.date.issued	2014
dc.identifier	10.1016/j.intfin.2014.05.002
dc.identifier.issn	1042-4431
dc.identifier.uri	http://hdl.handle.net/11615/31650
dc.description.abstract	This paper addresses the issue of impacts of central banks' transparency on stock market volatility. Using a simple theoretical macroeconomic model, we analytically find a negative link between stock prices volatility and central bank transparency. By applying panel data analysis on a set of 40 countries from 1998 to 2005, sufficient evidence for this negative relationship is provided, using three different measures of stock market volatility. Therefore, moving towards monetary policy transparency is recommended as stock market volatility can be reduced considerably, implying significant benefits for financial stability. (C) 2014 Elsevier B.V. All rights reserved.	en
dc.source.uri	<Go to ISI>://WOS:000338738200019
dc.subject	Central bank transparency	en
dc.subject	Stock market volatility	en
dc.subject	Panel data	en
dc.subject	MONETARY-POLICY	en
dc.subject	MACROECONOMIC ANNOUNCEMENTS	en
dc.subject	COMMUNICATION	en
dc.subject	RETURNS	en
dc.subject	RISK	en
dc.subject	INTERVENTIONS	en
dc.subject	CONTAGION	en
dc.subject	IMPACT	en
dc.subject	NEWS	en
dc.subject	Business, Finance	en
dc.subject	Economics	en
dc.title	Does central bank transparency affect stock market volatility?	en
dc.type	journalArticle	en

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