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

Samer Adra

Economics Letters, 2021, vol. 200, issue C

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.

Keywords: Monetary policy; Initial public offerings; Information shocks (search for similar items in EconPapers)
JEL-codes: E43 E44 E52 E58 G32 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:200:y:2021:i:c:s0165176521000288

DOI: 10.1016/j.econlet.2021.109751

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