The Influence of Domestic and International Interest Rates on the ISEQ

Don Bredin, Caroline Gavin and Gerard O Reilly
Additional contact information
Caroline Gavin: CBFSAI
Gerard O Reilly: CBFSAI
Authors registered in the RePEc Author Service: Gerard Patrick O'Reilly

The Economic and Social Review, 2003, vol. 34, issue 3, 249–265

Abstract: We investigate the influence of international and domestic monetary policy shocks on the Irish stock market. Specifically, we analyse the impact of (un)expected changes in domestic, US, UK and German/euro area policy rates on the ISEQ between 1988 to 2002 in an event type study. Our decomposition of (un)expected changes in policy rates are based on futures markets and is akin to Kuttner (2001). In the absence of an Irish interest rate futures market, we use a more indirect method by appealing to the expectations theory of the term structure of interest rates. Overall, our results suggest that, with the exception of the US, unanticipated changes in domestic and international interest rates appear to have little significant influence on the Irish stock market.

Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.esr.ie/Vol34_3Bredin.pdf First version, 2003 (application/pdf)

Related works:
Working Paper: The Influence of Domestic and International Interest Rates on the ISEQ (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eso:journl:v:34:y:2003:i:3:p:249-265

Access Statistics for this article

More articles in The Economic and Social Review from Economic and Social Studies
Bibliographic data for series maintained by Aedin Doris ().