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Journal ArticleDOI

Public Interpretation of Federal Reserve Discount Rate Changes: Evidence on the "Announcement Effect"

Roger N. Waud
- 01 Mar 1970 - 
- Vol. 38, Iss: 2, pp 231-250
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This article is published in Econometrica.The article was published on 1970-03-01. It has received 171 citations till now. The article focuses on the topics: Interpretation (philosophy).

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Efficient capital markets: a review of theory and empirical work*

Eugene F. Fama
- 01 May 1970 - 
TL;DR: Efficient Capital Markets: A Review of Theory and Empirical Work Author(s): Eugene Fama Source: The Journal of Finance, Vol. 25, No. 2, Papers and Proceedings of the Twenty-Eighth Annual Meeting of the American Finance Association New York, N.Y. December, 28-30, 1969 (May, 1970), pp. 383-417 as mentioned in this paper
Journal ArticleDOI

Stock returns and the weekend effect

TL;DR: In this paper, the authors examined two alternative models of the process generating stock returns: calendar time hypothesis and trading time hypothesis, and found that returns are generated only during active trading and the expected return is the same for each day of the week.
Posted Content

Stock Prices and Economic News

TL;DR: This article examined the daily response of stock prices to announcements about the money supply, inflation, real economic activity, and the discount rate, and found that only the unexpected part of any announcement, the surprise, moves stock prices.
ReportDOI

Stock Prices and Economic News

TL;DR: The authors examined the daily response of stock prices to announcements about the money supply, inflation, real economic activity, and the discount rate, and found that only the unexpected part of any announcement, the surprise, moves stock prices.
References
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Journal ArticleDOI

The behavior of stock market prices

Journal ArticleDOI

The Adjustment of Stock Prices to New Information

TL;DR: In this paper, the authors examine the process by which common stock prices adjust to the information (if any) that is implicit in a stock split and show that the independence of successive price changes is consistent with a market that adjusts rapidly to new information.
Book

A program for monetary stability

TL;DR: The only really sure way to beat inflation is to cut off inflation at the root as mentioned in this paper, and this is controversial stuff, and Professor Friedman doesn't blanch at what he feels is his call of duty.
Journal ArticleDOI

The random character of stock market prices

Paul H. Cootner
- 01 Sep 1965 - 
TL;DR: This paper showed that the text, first written in 1964, is still relevant and relevant at the beginning of the 21st century, which is known to a generation of financial economists having marked the beginnings of the field known as financial econometrics.