지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
오류제보하기
Purpose ? This paper aims to investigate the impact of uncertainty on the predictive power of term spread and its components for future stock market returns and economic activity in Korea and the USA. This paper finds that the stock market’s expected excess return and growth of economic activity are positively related to the risk-neutral expectation, one of the term spread’s components, particularly during high uncertainty periods. These findings are consistent with the importance of the monetary policy by the central bank in a high uncertainty environment created by unexpected shocks. The results are robust to alternate definitions of high uncertainty periods.
목차
등록된 정보가 없습니다.
참고문헌 (39)
참고문헌 신청
Adrian, T. / 2013 / Pricing the term structure with linear regressions / Journal of Financial Economics 110(1):110~138
Ang, A. / 2006 / What does the yield curve tell us about GDP growth? / Journal of Econometrics 131(1/2):359~403
Aye, G. C. / 2019 / Forecasting the probability of recessions in South Africa: the role of decomposed term spread and economic policy uncertainty / Journal of International Development 31(1):101~116
Baker, S. R. / 2016 / Measuring economic policy uncertainty / The Quarterly Journal of Economics 131(4):1593~1636
Baker, S. R. / 2020 / The unprecedented stock market reaction to COVID-19 / The Review of Asset Pricing Studies
Ang, A. / 2006 / What does the yield curve tell us about GDP growth? / Journal of Econometrics 131(1/2):359~403
Aye, G. C. / 2019 / Forecasting the probability of recessions in South Africa: the role of decomposed term spread and economic policy uncertainty / Journal of International Development 31(1):101~116
Baker, S. R. / 2016 / Measuring economic policy uncertainty / The Quarterly Journal of Economics 131(4):1593~1636
Baker, S. R. / 2020 / The unprecedented stock market reaction to COVID-19 / The Review of Asset Pricing Studies
함께 읽어보면 좋을 논문
논문 유사도에 따라 DBpia 가 추천하는 논문입니다. 함께 보면 좋을 연관 논문을 확인해보세요!
-
Economic Policy Uncertainty and Korean Economy : Focusing on Distribution Industry Stock Market
유통과학연구
2017 .01
-
경제 불확실성이 한국 수출제조기업의 투자에 미치는 영향에 관한 연구
한국무역경영연구
2023 .01
-
Impact of Uncertainty Created by the US post-QE Monetary Policy on Emerging Economies
Seoul Journal of Economics
2021 .11
-
Mean?variance relationship and uncertainty
선물연구
2022 .03
-
On the Link Between Policy Uncertainty and Domestic Production in G7 Countries: An Asymmetry Analysis
International Economic Journal
2021 .01
-
경제불확실성과 경제정책 불확실성이 중국 CDP Premium에 미치는 영향 분석
한중사회과학연구
2020 .01
-
Micro Uncertainty and the Lending Channel : Bank-level Evidence in an Emerging Market
Global Business and Finance Review
2024 .07
-
중국 경제 불확실성 측정과 중화권 주식 시장 변동성에 대한 예측력
금융지식연구
2018 .01
-
Economic Policy Uncertainty, Internal Control and M&A Performance
한국무역학회 국제학술대회
2019 .08
-
Economic Policy Uncertainty and Its Implications on Economic Recovery: A Case Study of Korea
[KIEP] KIEP Opinions
2016 .01
-
Uncertainty Channel between Stock Prices and Foreign Exchange Rates in Nepal
무역연구
2015 .01
-
Dynamic Relationship between Stock Prices and Exchange Rates: Evidence from Nepal
국제지역연구
2016 .01
-
경제적 불확실성과 회계정보의 가치관련성
회계학연구
2022 .04
-
Bayesian Time-Varying Parameter VAR 모형을 이용한 아시아 주식시장과 경제정책 불확실성에 관한 연구
국제경영리뷰
2020 .01
-
의사결정 프로세스를 고려한 불확실성의 인지적 차이에 대한 실증 연구
경영학연구
2016 .06
-
과업 불확실성과 관계 불확실성이 팀 구성방식, 만족도 및 성과에 미치는 영향
경영교육연구
2018 .02
-
Effects of Technological Uncertainty and Volume Uncertainty on Supplier"s Performance : The Moderating Effect of Structural holes
한국유통학회 학술대회 발표논문집
2015 .08
-
Effects of Technological Uncertainty and Volume Uncertainty on Supplier’s Performance : The Moderating Effect of Structural holes
한국유통학회 학술대회 발표논문집
2016 .05
-
Effects of Technological Uncertainty and Volume Uncertainty on Supplier’s Performance : The Moderating Effect of Structural holes
한국경영학회 융합학술대회
2015 .08
-
투입-산출 연계를 통한 해외 불확실성이 국내 생산에 미치는 영향
국제통상연구
2023 .03
이 논문의 저자 정보
최근 본 자료
댓글(0)
0