The Stock Market's Reaction to Unemployment News: 'Why Bad News is Usually Good for Stocks'

By John H. Boyd, Jian Hu, Ravi Jagannathan. 2005

578 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/d9dcd3c3fbbc797c80b0b48ef476c108af21994b

How researchers see this paper

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In Accounting

1. Scott R. Baker
2. Nicholas Bloom
3. Steven J. Davis
4. Michaela Pagel
5. Constantine Yannelis
6. Arna Olafsson
7. Greg Kaplan
8. Gregor Jarosch

In Economics and Econometrics

1. Steven J. Davis
2. Scott R. Baker
3. Nicholas Bloom
4. Aman Saggu
5. Alexandros Kontonikas
6. Ronald R. MacDonald
7. Hong Miao
8. Sanjay Ramchander

In Finance

1. Scott R. Baker
2. Aman Saggu
3. Alexandros Kontonikas
4. Ronald R. MacDonald
5. Hong Miao
6. Steven J. Davis
7. Sanjay Ramchander
8. Kyle J Kost

Citations in the corpus

• Macroeconomic News, Announcements, and Stock Market Jump Intensity Dynamics (2011, unknown): “This is consistent with the findings of Boyd et al. (2005) in the sense that good news for employment can be bad news for stocks due to the dominant effect of the interest rate component of stock prices.”
• Real-Time Price Discovery in Global Stock, Bond and Foreign Exchange Markets (2006, unknown): “Others examine multiple asset classes but only a single country (e.g., Boyd et al., 2005, who study U.S. stock and bond markets).”
• When does the stock market listen to economic news? New evidence from copulas and news wires (2014, unknown): “For example, on , Boyd et al. (2005), where negative unemployment news is found to have a negative effect on equity prices during economic contractions, but a positive effect during expansions.”
• Policy News and Stock Market Volatility (2019, background): “More recent contributions include Boyd et al. (2005) on stock market”
• Predictive Regressions with Time-Varying Coefficients (2012, unknown): “Mc-Queen and Roley (1993) and Boyd, Hu, and Jagannathan (2005) find that the incorporation of news into stock prices varies with the business cycle.”
• Impact of macroeconomic news on metal futures (2012, background): “Although there is a vast amount of literature that documents the effects of macroeconomic news on stocks (e.g., Boyd et al., 2005), bonds (e.g., Simpson and Ramchander, 2004; Nowak et al., 2011) and currencies (e.g., Simpson et al., 2005; Chen and Gau, 2010), the corresponding literature on the…”