RBA Annual Conference – 2003 Stock Market Volatility and Monetary Policy: What the Historical Record Shows
| Australia | Canada | Denmark | France | Italy | Japan | NZ | Sweden | Switzerland | UK | US | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| t | 0.0083 (0.0006) |
0.0015 (0.0006) |
0.0239 (0.0007) |
−0.0089 (0.0006) |
0.0013 (0.0008) |
0.0065 (0.0008) |
0.0173 (0.0011) |
0.0113 (0.0006) |
0.0079 (0.0006) |
0.0051 (0.0001) |
−0.0008 (0.0002) |
| t0.5 | −0.3270 (0.0308) |
−0.0185 (0.0224) |
−0.8419 (0.0271) |
0.4655 (0.0249) |
0.0372 (0.0325) |
−0.1973 (0.0314) |
−0.5036 (0.0379) |
−0.3742 (0.0249) |
−0.2528 (0.0260) |
−0.3875 (0.0101) |
0.1206 (0.0102) |
| Constant | 5.9992 (0.3345) |
4.0590 (0.2019) |
9.4489 (0.2532) |
−0.1705 (0.2466) |
4.0507 (0.3074) |
6.695 (0.2570) |
6.775 (0.305) |
6.5362 (0.2398) |
5.7818 (0.2753) |
10.2116 (0.1726) |
0.7383 (0.1366) |
| Number of observations | 1,532 | 1,017 | 980 | 1,224 | 1,118 | 1,045 | 862 | 1,153 | 1,047 | 3,685 | 2,412 |
| R2 | 0.230 | 0.070 | 0.610 | 0.330 | 0.150 | 0.095 | 0.340 | 0.370 | 0.200 | 0.287 | 0.370 |
|
Note: Standard errors in parentheses Source: Authors' calculations |
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