Séminaire Économie Julien PINTER
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Le 02 octobre 2025false false
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Salle des Actes, bâtiment ERDRE, IAE Nantes,
À partir de 14 h.
Julien PINTER
Université Alicante
Julien PINTER est chercheur en économie monétaire appliquée et professeur adjoint (titulaire) à l'Université d'Alicante.
Abstract :
We construct an index of market disappointment caused by the content of central bank announcements for the Fed and the ECB by extracting market perceptions reported in leading financial newspapers. We document that disappointment is frequently reported, mostly reflecting the market's preference for a more accommodative policy stance. Disappointment distinctly impacts the market's perception of the monetary policy rule, depresses stock prices, and raises volatility in the days after announcements. The reversal patterns found and additional analysis are consistent with an investor-sentiment channel. Overall, our results highlight that emotional responses to monetary policy announcements contain valuable information for understanding financial market dynamics.
Université Alicante
Julien PINTER est chercheur en économie monétaire appliquée et professeur adjoint (titulaire) à l'Université d'Alicante.
Abstract :
We construct an index of market disappointment caused by the content of central bank announcements for the Fed and the ECB by extracting market perceptions reported in leading financial newspapers. We document that disappointment is frequently reported, mostly reflecting the market's preference for a more accommodative policy stance. Disappointment distinctly impacts the market's perception of the monetary policy rule, depresses stock prices, and raises volatility in the days after announcements. The reversal patterns found and additional analysis are consistent with an investor-sentiment channel. Overall, our results highlight that emotional responses to monetary policy announcements contain valuable information for understanding financial market dynamics.
Mis à jour le 29 septembre 2025.