Effects of US money announcements on the daily exchange rates of industrialized countries

Authors
Arokiasamy, F Mathur, I Sharma, SC
Citation
F. Arokiasamy et al., Effects of US money announcements on the daily exchange rates of industrialized countries, APPL ECON, 32(5), 2000, pp. 593-599
Citations number
20
Categorie Soggetti
Economics
Journal title
APPLIED ECONOMICS
ISSN journal
00036846 → ACNP
Volume
32
Issue
5
Year of publication
2000
Pages
593 - 599
Database
ISI
SICI code
0003-6846(20000415)32:5<593:EOUMAO>2.0.ZU;2-0
Abstract
This paper examines the effects of anticipated and unanticipated components of US money supply announcements on exchange rates for each day of the wee k for eight industrialized countries. The results show that most of the rea ction to the anticipated component occurs before the announcement. However, the unanticipated component of the announcement causes strong reactions on the Friday and the Monday following the announcement, and in the days prec eding the announcement.