期刊名称：journal of accounting, finance and auditing studies
电子版ISSN：2149-0996
出版年度：2018
卷号：4/3
页码：241-257
语种：
出版社：Ahmet GÖKGÖZ
摘要：In terms of the monetary transmission mechanism, one of the canals of influence of the monetary policy on the economy is the stock market. Determining the relationship between monetary policy actions and stock market is important in terms of the monetary transmission actions. The purpose of this study is to investigate the effect of monetary policy shocks as a basic economic shocks on stock markets. In the study, predicting Dynamic Stochastic General Equilibrium model was carried out within framework of Bayesian Approach. The relationship between monetary policy shocks and stock market was investigated by causality analysis. Obtained findings indicate that there is bilateral relation between monetary policy shocks and stock returns.
