Author
Andrew Meegan
Bio: Andrew Meegan is an academic researcher from Dublin City University. The author has contributed to research in topics: Cryptocurrency & Volatility (finance). The author has an hindex of 9, co-authored 12 publications receiving 749 citations.
Papers
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TL;DR: In this article, the authors analyse the relationship between three popular cryptocurrencies and a variety of other financial assets and find evidence of the relative isolation of these assets from the financial and economic assets.
813 citations
TL;DR: This paper examined the response of a broad set of digital assets to US Federal Fund interest rate and quantitative easing announcements, specifically examining associated volatility spillover and feedback effects, and classified each digital asset into one of three categories: Currencies; Protocols; and Decentralized Applications (dApps).
93 citations
TL;DR: This paper examined the relationship between news coverage and Bitcoin returns and found that macroeconomic news affects stock returns, commodity prices, and even Bitcoin returns, and showed that news coverage affects Bitcoin returns.
Abstract: This paper examines the relationship between news coverage and Bitcoin returns. Previous studies have provided evidence to suggest that macroeconomic news affects stock returns, commodity prices an...
68 citations
TL;DR: This article examined the influence of domestic and international terrorist attacks on the volatility of domestic European stock markets and found that acts of domestic terrorism significantly increase domestic stock market volatility, however international acts of terrorism within Europe does not present significant stock market volatile in Ireland and Spain.
49 citations
TL;DR: Corbet et al. as mentioned in this paper investigated the effects of international monetary policy changes on bitcoin returns using a GARCH (1.1) estimation model and found significant evidence of volatility effects driven by United States, European Union, United Kingdom and Japanese quantitative easing announcements.
Abstract: The emergence of Bitcoin in 2009 has received considerable attention surrounding the validity of cryptocurrencies as a viable, and in some jurisdictions, a legal currency alternative. Despite widespread concern that these cryptocurrencies are fostering the environment within which a substantial bubble can occur, it is important to analyze whether these new assets are behaving similarly to major international currencies. This paper investigates the effects of international monetary policy changes on bitcoin returns using a GARCH (1.1) estimation model. The results indicate that monetary policy decisions based on interest rates taken by the Federal Open Market Committee in the United States significantly impact upon bitcoin returns. After controlling for international effects, we find significant evidence of volatility effects driven by United States, European Union, United Kingdom and Japanese quantitative easing announcements. These results show that, despite its nature and ideals, bitcoin seems to be subject to the same economic factors as traditional fiat currencies, and is not entirely unaffected by government policies. This result has implications for investors using bitcoin as a hedging or diversification tool. In addition, we contribute to the existing debate regarding the classification of bitcoin as an asset class, by illustrating that bitcoin volatility exhibits various reactions that bear resemblance to both currency pairs and storeof-value assets. Shaen Corbet (Ireland), Grace McHugh (Ireland), Andrew Meegan (Ireland) BUSINESS PERSPECTIVES LLC “СPС “Business Perspectives” Hryhorii Skovoroda lane, 10, Sumy, 40022, Ukraine www.businessperspectives.org The influence of central bank monetary policy announcements on cryptocurrency return volatility Received on: 24th of August, 2017 Accepted on: 27th of November, 2017
44 citations
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TL;DR: The enormous economic and social impact of COVID-19 is highlighted with respect to articles that have either prognosticated such a large-scale event, and its economic consequences, or have assessed the impacts of other epidemics and pandemics.
983 citations
TL;DR: A systematic review of the empirical literature based on the major topics that have been associated with the market for cryptocurrencies since their development as a financial asset in 2009 is presented in this article, where the authors provide a systematic analysis of the main topics that influence the perception of cryptocurrencies as a credible investment asset class and legitimate of value.
623 citations
TL;DR: In this article, the volatility relationship between the main Chinese stock markets and Bitcoin evolved significantly during this period of enormous financial stress, and the authors provided a number of observations as to why this situation occurred.
591 citations
TL;DR: In this paper, the authors compared the conditional variance properties of Bitcoin and gold as well as other assets and found differences in their structure and concluded that Bitcoin and Gold feature fundamentally different properties as assets and linkages to equity markets.
520 citations
TL;DR: It is shown that Bitcoin does not act as a safe haven, instead decreasing in price in lockstep with the S&P 500 as the crisis develops, and cast doubt on the ability of Bitcoin to provide shelter from turbulence in traditional markets.
519 citations