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Does Wall Street Love Federal Reserve?

This paper uses Federal Funds Futures and the industry returns to analyze the Federal Reserve Policy's influence on Wall Street firms. According to the results, Wall Street produces high returns in response to the monetary policy when compared to other industries. While this positive response is consistent to both interest hikes and cuts, there exists significant cross-firm and cross-period variation. Besides, the result is robust to the alternative measure of event days and employment release.

Identiferoai:union.ndltd.org:CLAREMONT/oai:scholarship.claremont.edu:cmc_theses-2571
Date01 January 2017
CreatorsWang, Yunyi
PublisherScholarship @ Claremont
Source SetsClaremont Colleges
Detected LanguageEnglish
Typetext
Formatapplication/pdf
SourceCMC Senior Theses
Rights© 2016 Yunyi Wang, default

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