The presidential puzzle: political cycles and the stock market
Article Abstract:
The article examines the difference in returns under Republican and Democratic presidencies. Stock market excess return is lower under Republican presidents than under Democratic ones. Business-cycle variables do not explain the differences, and no election-date influences are observed; hence, the issue is still an economic puzzle.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2003
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What Explains the Stock Market's Reaction to Federal Reserve Policy?
Article Abstract:
A hypothetical unanticipated reduction in the Federal funds rate target was found to be linked to a broad stock index increase of approximately 1%. Implications regarding monetary policy and expected excess returns are discussed.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2005
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Idiosyncratic risk matters!
Article Abstract:
The positive correlation between market returns and average stock variance is examined.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2003
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