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Unforeseen Events Wait Lurking :, Estimating Policy Spillovers From U.S. to Foreign Asset Prices, Tamim Bayoumi, Trung Bui

Abstract
Event studies are used to analyze the impact of U.S. financial, fiscal, and monetary policies from US to foreign asset prices across a range of G20 countries and Switzerland. The initial announcement that the Administration supported tighter regulation of banks led to a generalized fall in advanced economy bank shares compared to local equity markets. For later Dodd-Frank announcements, however, falls in U.S. bank equity prices were accompanied by increases in U.K. and Swiss valuations, implying a potential for regulatory arbitrage. Turning to macro policies, the 2008/9 fiscal and monetary stimulus packages generally supported foreign activity, while the impact of similar stimulus in 2010 is less clear
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Data; III. Specification; IV. Financial Sector Reform Results; A. Baseline Regressions; 1a: Bank Excess Returns: Basic Regressions; 1b: Bank Excess Returns: Bank Characteristics; 1c: Bank Excess Returns: Bank Characteristics and Other Financial Conditions; B. Policy Impact: Swaps; C. Financial regulation; D. Monetary and Fiscal Policies; 2a: Foreign Bond Yields: Basic Regression; 2b: Foreign Bond Yields: Including Other Financial Conditions; 3a: Bilateral Exchange Rates: Basic Regression
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (53 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781463900533

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