Comments on 'Robustly optimal monetary policy in a microfounded New Keynesian model' by K. Adam and M. Woodford
In: Journal of Monetary Economics, Band 59, Heft 5, S. 488-492
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In: Journal of Monetary Economics, Band 59, Heft 5, S. 488-492
In: Journal of Monetary Economics, Band 58, Heft 5, S. 515-517
In: Journal of Monetary Economics, Band 49, Heft 1, S. 27-30
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In: Sveriges Riksbank Working Paper Series No. 336
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In: Riksbank Research Paper Series No. 162
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In: NBER Working Paper No. w16175
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In: Discussion paper series 2843
In: Financial economics
In: Review of Finance 26(6): 1433–1468, 2022
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In: Review of Asset Pricing Studies 10(1): 1–60, 2020
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In: Swiss Finance Institute Research Paper No. 18-69
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In: Behavioral Finance, S. 67-113
In: Journal of Monetary Economics, Band 52, Heft 5, S. 921-950
In: Economic notes, Band 33, Heft 1, S. 83-110
ISSN: 1468-0300
Seasoned equity offerings involve two significant events: registration followed by the decision to complete the issue or withdraw the registration. We present an empirical analysis of the interaction between seasoned equity issues, insider trading and the incorporation of information in prices around these two events. We find that the manager moves prices through corporate decisions but not personal ones. Specifically, the market reacts to the registration and the registration triggers information acquisition by the market, which is shown to influence the manager's final decision. Trading by managers during this interval does not, however, move prices. (J.E.L.: G14, G23, G32).
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