Do Monetary and Technology Shocks Move Euro Area Stock Prices?

Do Monetary and Technology Shocks Move Euro Area Stock Prices?

Do Monetary and Technology Shocks Move Euro Area Stock Prices?

I use a Bayesian vector autoregressive (VAR) model to investigate the impact of monetary and technology shocks on the euro area stock market in 1987-2005. I find an important role for technology shocks, but not monetary shocks, in explaining variations in real stock prices. The identification method is flexible enough to study the effects of technology news shocks.

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