The conventional and informational impacts of monetary policy on the IPO market

Samer Adra

    Research output: Contribution to journalArticlepeer-review

    Abstract

    This paper provides the first investigation of the exogenous monetary shocks’ impact on the IPO market by using a high-frequency identification strategy. Contractionary shocks in the conventional sense trigger a decline in IPO activity. In contrast, contractionary shocks that convey positive economic information trigger a rise in IPO activity. Separating conventional monetary shocks from central bank information shocks allows a richer assessment of the monetary policy’s influence on the IPO market.
    Original languageEnglish
    Article number109751
    Number of pages5
    JournalEconomics Letters
    Volume200
    Early online date2 Feb 2021
    DOIs
    Publication statusPublished - Mar 2021

    Keywords

    • Information shocks
    • Initial public offerings
    • Monetary policy

    ASJC Scopus subject areas

    • Finance
    • Economics and Econometrics

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