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Impact of the United States unemployment rate news in stock markets’ returns
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Autores
Orientador(es)
Resumo(s)
Along with the growth product and the inflation rate, the unemployment rate is viewed
as a way to describe a country strength and healthiness. It is reasonable to assume that a
change in the unemployment rate will have an impact in the expectations of an
economic agent over the future path of the economy. Being these changes a
macroeconomic feature it will have an effect on the economic activity not only by the
businesses expectations but also by the financial institutions. This study proposes to use
the event studies’ framework to analyse the impact of unemployment changes in the
stock market returns. In addition, it compares the United States stock market returns
with other important markets regarding this particular announcement. The study
provides evidence that this announcement has indeed some influence over the market
expectations.
Descrição
A Work Project, presented as part as the requirements for the Award of a Masters Degree in Finance from the Nova School in Business and Economics
Palavras-chave
Unemployment Rate Event-Study Market Efficiency Market Expectations