Uncertainty about Government Policy and Stock Prices
By Ľuboš Pástor, Pietro Veronesi. 2012
2,107 citations recorded by the source corpus.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/c66682428364652d6e38bc10346db17a9bf5a6ab
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
- George Filis
- Rangan Gupta
- Wensheng Kang
- Ronald A. Ratti
- Po-Hsuan Hsu
- Muhammad Shahbaz
- X. Tian
- Nikolaos Antonakakis
In Finance
- Po-Hsuan Hsu
- Çiğdem Vural-Yavaş
- Gonul Colak
- Camila C. Pereira
- George Filis
- Artyom Durnev
- Rangan Gupta
- Özde Öztekin
Citations in the corpus
- Political risk and dividend policy: Evidence from international political crises (2015, positive): “In a similar vein, Pastor and Veronesi (2012, 2013) argue that political crises increase the perceived uncertainty of capital market participants and expected returns.”
- The Pollution Premium (2023, methodology): “Second, we do not introduce the policy impact uncertainty, while Pástor and Veronesi (2012, 2013) explicitly assume agents must learn about the policy impact g.”
- Policy uncertainty and corporate credit spreads (2020, positive): “One interesting question for future research is whether the e↵ectiveness of unconventional policy responses to economic shocks is automatically muted, as their use raises policy uncertainty and thereby increases risk premia in an economy (as in Pastor and Veronesi (2012)).”
- The pandemic and economic policy uncertainty (2020, background): “On the other hand, some scholars argue that increased uncertainty should be treated as a risk factor (Hoque & Zaidi, 2019) given EPU's negative impacts on the overall market and economy (Pástor & Veronesi, 2012).”
- Carbon Tail Risk (2020, positive): “10 Pastor and Veronesi (2012) formally model impact uncertainty. Pastor and Veronesi (2012) differs from PV’s model in a way that has implications for our hypotheses. Pastor and Veronesi (2012) assume that prior beliefs about the impacts of potential policies are identical.”
- Oil shocks, policy uncertainty and stock market return (2013, background): “Pastor and Veronesi (2012) build a general equilibrium model predicting stock prices fall at the announcement of a policy change.”