Working Papers Application
Cohen, Diether, and Malloy , find that shifts within the demand curve predict negative stock returns. We use their method to examine adjustments in provide and demand on the time of FOMC announcements. We show that shifts in the demand for borrowing Treasuries and agencies predict quantitative easing. A discount within the amount demanded at all points alongside the demand curve predicts expansionary quantitative easing bulletins. If you misplace your working papers, you’ll be able to request a replica copy from the office that issued it.
We develop a three-region world financial model consisting of the U.S., Western Europe, and…Continue Reading
