Asymmetric monetary policy effects on cryptocurrency markets

Thai Nguyen, Binh Nguyen Thanh, Kien Nguyen and Huy Pham

Research in International Business and Finance, 2019, vol. 48, issue C, 335-339

Abstract: Cryptocurrencies have recently attracted numerous interests from investors as potential investable assets. However, research on their responses to macroeconomic policies remains insufficient. This study examines the asymmetric impacts of monetary policies on cryptocurrency returns during monetary tightening versus monetary easing regimes. Interestingly, we find significant responses of four major cryptocurrencies including Bitcoin to Chinese tightening monetary policies; however, U.S. monetary policies do not significantly affect cryptocurrency returns.

Keywords: Cryptocurrencies; Monetary policy; Asymmetric response; China; U.S. (search for similar items in EconPapers)
JEL-codes: E43 E52 G10 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:48:y:2019:i:c:p:335-339

DOI: 10.1016/j.ribaf.2019.01.011

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