Impact of FOMC Meetings on Stock Returns Across the World

Student: Taranenko Tatiana

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2018

This paper studies the effect of FOMC meetings on the international stock returns in two ways. First, we observe a bi-weekly pattern in terms of FOMC cycle in such countries as UK, Canada and Switzerland, while China and France show little to no evidence of the pattern, especially over the data of excess stock returns as opposed to stock returns. Second, we study the effect of the surprise changes in the federal funds interest rate target over different weeks of FOMC cycle and reveal that even weeks of FOMC cycle are significant in their impact.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses