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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/32175
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dc.contributor.authorHumpe, Andreasen_UK
dc.contributor.authorMcMillan, Daviden_UK
dc.date.accessioned2021-01-18T10:30:28Z-
dc.date.available2021-01-18T10:30:28Z-
dc.date.issued2020en_UK
dc.identifier.urihttp://hdl.handle.net/1893/32175-
dc.description.abstractIn the first five months of 2020 industrial production in the US fell 15% due to the Covid-19 shut down. At the same time the S&P500 stock market index first dropped by 30% and then recovered to almost pre-crisis levels. This seems puzzling as the most severe economic recession in nearly a century unfolds. However, central banks have supported financial markets with unprecedented money supply and this might explain the observed stock market resilience. Within a cointegration framework, we estimate the relation between macroeconomic variables and the US stock market. Results show that approximately half of the stock market recovery can be attributed to the increase in money supply.en_UK
dc.language.isoenen_UK
dc.publisherEconomics Bulletinen_UK
dc.relationHumpe A & McMillan D (2020) The Covid-19 Stock Market Puzzle and Money Supply in the US. Economics Bulletin, 40 (4), pp. 3104-3110. http://www.accessecon.com/pubs/eb/default.aspx?topic=Abstract&PaperID=EB-20-00803en_UK
dc.rightsThe Author retains the right to reuse or reproduce all work accepted for publication at the Economics Bulletin in any form he chooses subject to the sole condition that proper acknowledgment is made of its prior publication in Economics Bulletin.en_UK
dc.rights.urihttps://storre.stir.ac.uk/STORREEndUserLicence.pdfen_UK
dc.subjectCovid-19en_UK
dc.subjectMoney Supplyen_UK
dc.subjectCointegrationen_UK
dc.subjectStock Marketen_UK
dc.subjectMacroeconomyen_UK
dc.subjectUSen_UK
dc.subjectJEL: G1 - (G11, G13, G13) Portfolios, Investments, Asset and Futures Pricing, Trading Volume & Bond Interest Ratesen_UK
dc.subjectC1 - Econometric and Statistical Methods: Generalen_UK
dc.titleThe Covid-19 Stock Market Puzzle and Money Supply in the USen_UK
dc.typeJournal Articleen_UK
dc.citation.jtitleEconomics Bulletinen_UK
dc.citation.issn1545-2921en_UK
dc.citation.volume40en_UK
dc.citation.issue4en_UK
dc.citation.spage3104en_UK
dc.citation.epage3110en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusVoR - Version of Recorden_UK
dc.identifier.urlhttp://www.accessecon.com/pubs/eb/default.aspx?topic=Abstract&PaperID=EB-20-00803en_UK
dc.citation.date25/11/2020en_UK
dc.contributor.affiliationMunich University of Applied Scienceen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.identifier.scopusid2-s2.0-85098152089en_UK
dc.identifier.wtid1695710en_UK
dc.contributor.orcid0000-0002-5891-4193en_UK
dc.date.accepted2020-11-25en_UK
dcterms.dateAccepted2020-11-25en_UK
dc.date.filedepositdate2021-01-18en_UK
dc.subject.tagCOVID-19en_UK
rioxxterms.apcnot chargeden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionVoRen_UK
local.rioxx.authorHumpe, Andreas|en_UK
local.rioxx.authorMcMillan, David|0000-0002-5891-4193en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2021-01-18en_UK
local.rioxx.licencehttps://storre.stir.ac.uk/STORREEndUserLicence.pdf|2021-01-18|en_UK
local.rioxx.filenameTheCovid-19stockmarketpuzzleandmoneysupplyintheUS.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source1545-2921en_UK
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