Show simple item record

dc.contributor.authorCuthbertson, Keith
dc.contributor.authorHayes, Simon
dc.contributor.authorHyde, Stuart
dc.date.accessioned2012-08-24T15:04:14Z
dc.date.available2012-08-24T15:04:14Z
dc.date.issued1998
dc.identifier.citationCuthbertson, Keith; Hayes, Simon; Hyde, Stuart. 'The industry response to macroeconomic shocks in the UK, Germany and France and the convergence debate'. - Economic & Social Review, Vol. 29, No. 4, October, 1998, pp. 383-401, Dublin: Economic & Social Research Institute
dc.identifier.issn0012-9984
dc.identifier.urihttp://hdl.handle.net/2262/64731
dc.description.abstractIn this paper, we investigate the response of stock returns at an industry level to macroeconomic shocks for the UK, Germany and France. The betas between the stock returns and the macroeconomic factors provide a metric for the markets view of the homogeneity of industry response to the various macroeconomic shocks. We find that the market seems to focus on the interest rate and the exchange rate as key sources of important shocks and that shocks to real output growth have little or no direct effect on most industry returns in all three countries.en
dc.language.isoen
dc.publisherEconomic & Social Studies
dc.sourceEconomic & Social Reviewen
dc.subjectMacroeconomic shocksen
dc.subjectConvergenceen
dc.subjectUnited Kingdomen
dc.subjectFranceen
dc.subjectGermanyen
dc.subjectIndustrial performanceen
dc.titleThe industry response to macroeconomic shocks in the UK, Germany and France and the convergence debate
dc.typeJournal Article
dc.publisher.placeDublinen


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record