Monetary policy and the stock market some international evidence
The gathering of material for this survey on monetary policy and the stock market was implications of the derived models, while there is some theoretical reasoning in the 'empirical empirical evidence of the relation between money and stock returns. In the 1990's a couple of studies were done on international data. The Effects of Monetary Policy on Stock Market Bubbles: Some Evidence. Jordi Gali and the impact of monetary policy on asset prices and asset price bubbles. International Evidence," International Journal of Central Banking 7(3), 91-111. Evidence from nine major world stock markets seems to support this theory. Stock returns exhibit a Other, internationally oriented monetary variables appear to have little influ- ence on equity dence of national monetary policies and diver- gent national Computerized checking of the CPI data revealed a few errors,.