News and monetary shocks at a high frequency : a simple approach /

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Bibliographic Details
Author / Creator:	Matheson, Troy, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2014.
Description:	1 online resource (12 pages) : color illustrations.
Language:	English
Series:	IMF working paper ; WP/14/167 IMF working paper ; WP/14/167.
Subject:	Journalism, Commercial. Fiscal policy -- Econometric models. Monetary policy -- Econometric models. Fiscal policy -- Econometric models. Journalism, Commercial. Monetary policy -- Econometric models. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12503336

Hidden Bibliographic Details
Other authors / contributors:	Stavrev, Emil, author. International Monetary Fund. Research Department, issuing body.
Notes:	"September 2014." "Research Department." Includes bibliographical references (page 7). Online resource; title from pdf title page (IMF.org Web site, viewed September 15, 2014).
Summary:	We develop a simple approach to identify economic news and monetary shocks at a high frequency. The approach is used to examine financial market developments in the United States following the Federal Reserve's May 22, 2013 taper talk suggesting that it would begin winding down its quantitative easing program. Our findings show that the sharp rise in 10-year Treasury bond yields immediately after the taper talk was largely due to monetary shocks, with positive economic news becoming increasingly important in subsequent months.--Abstract.

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