Arbeitspapier
What drives financial markets? Real-time macroeconomic indicators
It is difficult to identify the driving forces behind financial market developments as they are not directly observable. The paper argues that correlations between asset prices in different markets can be used to infer which of five macroeconomic factors that drive markets (growth and inflation in the euro area and the US respectively and global risk appetite). The asset pricing in the model follows standard finance theory, but the resulting indicators are novel. The indicators are useful as they are objective, consistent, based on actual market developments, quantitative and available in real-time. The history of the indicators also passes a reality check.
- Sprache
-
Englisch
- Erschienen in
-
Series: Danmarks Nationalbank Working Papers ; No. 42
- Klassifikation
-
Wirtschaft
- Thema
-
Finanzmarkt
Wertpapierhandel
Wirtschaftswachstum
Inflation
Finanzmarkt
Wertpapierhandel
Wirtschaftswachstum
Inflation
Makroökonomik
USA
Eurozone
EU-Staaten
USA
Makroökonomischer Einfluss
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hansen, Jakob Lage
- Ereignis
-
Veröffentlichung
- (wer)
-
Danmarks Nationalbank
- (wo)
-
Copenhagen
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hansen, Jakob Lage
- Danmarks Nationalbank
Entstanden
- 2006
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