Investor Sentiment and the Stock Market’s Reaction to Monetary Policy

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Stock market response to monetary and fiscal policy shocks: Multi-country evidence (2013, neutral): “the effect of fiscal policy on monetary variables, such as inflation, interest and exchange rates (Muscatelli and Tirreli, 2005; Zoli, 2005). The inter-temporal budget constraint requires that government expenditure is financed through taxation, borrowing or seignorage. Sargent and Wallace (1981) ou”
Stock Market Reaction to Fed Funds Rate Surprises: State Dependence and the Financial Crisis (2013, methodology): “7 We also experimented with an alternative specification that includes both expected and unexpected FFR changes, in line with Bernanke and Kuttner (2005). We found that the former variable tends to remain statistically insignificant both in the baseline regression and throughout most of the subseque”
Investor sentiment in the stock market (2013, neutral): “…(2006) investor sentiment index is currently the most popular sentiment proxy considering the number of related papers 30 3 0 (some of them are (Hribar & McInnis, 2011), (Berger & Turtle, 2012), (Kurov, 2010), (Mian & Sankaraguruswamy, 2012), (Ben-Rephael, Kandel, & Wohl, 2012) and (Chen, 2011)).”