Central-Bank Council Meetings — Event Studies
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In this chapter we focus on the effects of individual ECB council meetings on market expectations. The results in Chapter 8 clearly show that all central-bank council meetings do not have identical effects on market expectations. A detailed investigation of individual episodes can potentially provide insights that cannot be gained from an aggregative point of view as in Chapter 8. Therefore, we present event studies in which we track the evolution of market expectations over short time periods centered on ten selected ECB council meetings.
KeywordsInterest Rate Option Price Event Study Market Participant Future Price
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