The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile
This paper analyzes the stock-market response to monetary policy decisions made by the Central Bank of Chile -- We use a methodology designed for the study of low frequency events and monthly data from September 2001 to December 2013 to estimate the effect of anticipated and unanticipated changes in...
- Autores:
-
Acuña, Andrés A.
Pinto, Cristián F.
- Tipo de recurso:
- Fecha de publicación:
- 2015
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- spa
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/7807
- Acceso en línea:
- http://hdl.handle.net/10784/7807
- Palabra clave:
- E52
E58
G14
BOLSA DE VALORES
POLÍTICA MONETARIA - CHILE
ACCIONES (BOLSA) - PRECIOS - MODELOS MATEMÁTICOS
INFLACIÓN
Stock-exchange
Monetary policy - Chile
Stocks - prices - mathematical models
Inflation (finance)
- Rights
- License
- Copyright (c) 2015 Andrés A. Acuña, Cristián F. Pinto
| id |
REPOEAFIT2_74ed6fb6adef46b7dcd92172691a73b7 |
|---|---|
| oai_identifier_str |
oai:repository.eafit.edu.co:10784/7807 |
| network_acronym_str |
REPOEAFIT2 |
| network_name_str |
Repositorio EAFIT |
| repository_id_str |
|
| spelling |
2015-06-302015-11-30T15:31:30Z2015-06-302015-11-30T15:31:30Z1657-4206http://hdl.handle.net/10784/780710.17230/ecos.2015.40.3This paper analyzes the stock-market response to monetary policy decisions made by the Central Bank of Chile -- We use a methodology designed for the study of low frequency events and monthly data from September 2001 to December 2013 to estimate the effect of anticipated and unanticipated changes in the Chilean monetary policy interest rate on stock returns -- In contrast to the research findings in the literature for the U.S., we find no evidence that monetary surprises affect Chilean stock returnsEste artículo analiza la respuesta de la Bolsa de Comercio a las decisiones que toma el Banco Central de Chile en cuanto a política monetaria -- Utilizamos una metodología diseñada para el estudio de eventos poco frecuentes y datos mensuales desde Septiembre de 2001 hasta Diciembre de 2013 con el fin de estimar el efecto de cambios anticipados y no anticipados en la política monetaria chilena sobre la tasa de interés de los retornos de la Bolsa -- En contraste con los resultados de investigaciones en la literatura de Estados Unidos, no encontramos evidencia alguna que demuestre que las sorpresas monetarias afectan los retornos chilenos en la Bolsaapplication/pdfspaUniversidad EAFITEcos de Economía: A Latin American Journal of Applied Economics; Vol 19, No 40 (2015); 48-65http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3044http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3044Copyright (c) 2015 Andrés A. Acuña, Cristián F. PintoAcceso abiertohttp://purl.org/coar/access_right/c_abf2instname:Universidad EAFITreponame:Repositorio Institucional Universidad EAFITEcos de Economía: A Latin American Journal of Applied Economics; Vol 19, No 40 (2015); 48-65E52E58G14BOLSA DE VALORESPOLÍTICA MONETARIA - CHILEACCIONES (BOLSA) - PRECIOS - MODELOS MATEMÁTICOSINFLACIÓNStock-exchangeMonetary policy - ChileStocks - prices - mathematical modelsInflation (finance)The Effect of Central Bank Policy Decisions on Stock Market Returns in ChileEfectos de las decisiones de política del Banco Central sobre los retornos de la Bolsa de Comercio en Chileinfo:eu-repo/semantics/articlearticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Acuña, Andrés A.Pinto, Cristián F.Universidad del Bío-BíoUniversidad del Bío-BíoEcos de Economía: A Latin American Journal of Applied Economics19404865ecos.econ.THUMBNAILminaitura-ecos_Mesa de trabajo 1.jpgminaitura-ecos_Mesa de trabajo 1.jpgimage/jpeg251248https://repository.eafit.edu.co/bitstreams/cb3b1a52-c20e-4fae-902a-649068a0039e/download9b15d674b076c1793a0bc25cebb1bcefMD51ORIGINALdocument (78).pdfdocument (78).pdfTexto completo PDFapplication/pdf568986https://repository.eafit.edu.co/bitstreams/a4410460-4439-4abd-ae17-c4904cfefabd/download2eef0f144ff81d4f332772fc3712e6f2MD52articulo.htmlarticulo.htmlTexto completo HTMLtext/html377https://repository.eafit.edu.co/bitstreams/f8c8495a-d371-4179-a625-adc526eee47e/download487db09ff6ec52514f341d3d66323d9dMD5310784/7807oai:repository.eafit.edu.co:10784/78072020-03-18 12:27:07.819open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co |
| dc.title.eng.fl_str_mv |
The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile |
| dc.title.spa.fl_str_mv |
Efectos de las decisiones de política del Banco Central sobre los retornos de la Bolsa de Comercio en Chile |
| title |
The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile |
| spellingShingle |
The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile E52 E58 G14 BOLSA DE VALORES POLÍTICA MONETARIA - CHILE ACCIONES (BOLSA) - PRECIOS - MODELOS MATEMÁTICOS INFLACIÓN Stock-exchange Monetary policy - Chile Stocks - prices - mathematical models Inflation (finance) |
| title_short |
The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile |
| title_full |
The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile |
| title_fullStr |
The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile |
| title_full_unstemmed |
The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile |
| title_sort |
The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile |
| dc.creator.fl_str_mv |
Acuña, Andrés A. Pinto, Cristián F. |
| dc.contributor.author.spa.fl_str_mv |
Acuña, Andrés A. Pinto, Cristián F. |
| dc.contributor.affiliation.spa.fl_str_mv |
Universidad del Bío-Bío Universidad del Bío-Bío |
| dc.subject.none.fl_str_mv |
E52 E58 G14 |
| topic |
E52 E58 G14 BOLSA DE VALORES POLÍTICA MONETARIA - CHILE ACCIONES (BOLSA) - PRECIOS - MODELOS MATEMÁTICOS INFLACIÓN Stock-exchange Monetary policy - Chile Stocks - prices - mathematical models Inflation (finance) |
| dc.subject.lemb.none.fl_str_mv |
BOLSA DE VALORES POLÍTICA MONETARIA - CHILE ACCIONES (BOLSA) - PRECIOS - MODELOS MATEMÁTICOS INFLACIÓN |
| dc.subject.keyword.none.fl_str_mv |
Stock-exchange Monetary policy - Chile Stocks - prices - mathematical models Inflation (finance) |
| description |
This paper analyzes the stock-market response to monetary policy decisions made by the Central Bank of Chile -- We use a methodology designed for the study of low frequency events and monthly data from September 2001 to December 2013 to estimate the effect of anticipated and unanticipated changes in the Chilean monetary policy interest rate on stock returns -- In contrast to the research findings in the literature for the U.S., we find no evidence that monetary surprises affect Chilean stock returns |
| publishDate |
2015 |
| dc.date.available.none.fl_str_mv |
2015-11-30T15:31:30Z |
| dc.date.issued.none.fl_str_mv |
2015-06-30 |
| dc.date.accessioned.none.fl_str_mv |
2015-11-30T15:31:30Z |
| dc.date.none.fl_str_mv |
2015-06-30 |
| dc.type.eng.fl_str_mv |
info:eu-repo/semantics/article article |
| dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_6501 http://purl.org/coar/resource_type/c_2df8fbb1 |
| dc.type.local.spa.fl_str_mv |
Artículo |
| dc.identifier.issn.none.fl_str_mv |
1657-4206 |
| dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/10784/7807 |
| dc.identifier.doi.none.fl_str_mv |
10.17230/ecos.2015.40.3 |
| identifier_str_mv |
1657-4206 10.17230/ecos.2015.40.3 |
| url |
http://hdl.handle.net/10784/7807 |
| dc.language.iso.spa.fl_str_mv |
spa |
| language |
spa |
| dc.relation.ispartof.eng.fl_str_mv |
Ecos de Economía: A Latin American Journal of Applied Economics; Vol 19, No 40 (2015); 48-65 |
| dc.relation.isversionof.none.fl_str_mv |
http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3044 |
| dc.relation.uri.none.fl_str_mv |
http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3044 |
| dc.rights.spa.fl_str_mv |
Copyright (c) 2015 Andrés A. Acuña, Cristián F. Pinto |
| dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
| dc.rights.local.spa.fl_str_mv |
Acceso abierto |
| rights_invalid_str_mv |
Copyright (c) 2015 Andrés A. Acuña, Cristián F. Pinto Acceso abierto http://purl.org/coar/access_right/c_abf2 |
| dc.format.none.fl_str_mv |
application/pdf |
| dc.publisher.spa.fl_str_mv |
Universidad EAFIT |
| dc.source.none.fl_str_mv |
instname:Universidad EAFIT reponame:Repositorio Institucional Universidad EAFIT |
| dc.source.eng.fl_str_mv |
Ecos de Economía: A Latin American Journal of Applied Economics; Vol 19, No 40 (2015); 48-65 |
| instname_str |
Universidad EAFIT |
| institution |
Universidad EAFIT |
| reponame_str |
Repositorio Institucional Universidad EAFIT |
| collection |
Repositorio Institucional Universidad EAFIT |
| bitstream.url.fl_str_mv |
https://repository.eafit.edu.co/bitstreams/cb3b1a52-c20e-4fae-902a-649068a0039e/download https://repository.eafit.edu.co/bitstreams/a4410460-4439-4abd-ae17-c4904cfefabd/download https://repository.eafit.edu.co/bitstreams/f8c8495a-d371-4179-a625-adc526eee47e/download |
| bitstream.checksum.fl_str_mv |
9b15d674b076c1793a0bc25cebb1bcef 2eef0f144ff81d4f332772fc3712e6f2 487db09ff6ec52514f341d3d66323d9d |
| bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 |
| repository.name.fl_str_mv |
Repositorio Institucional Universidad EAFIT |
| repository.mail.fl_str_mv |
repositorio@eafit.edu.co |
| _version_ |
1814110343379550208 |