Do Federal Reserve policy surprises affect the risk perception in the emerging markets?
Applied Financial Economics Letters
329 - 332
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Employing an event study approach, the present authors analyse whether the Federal Reserve's policy surprises affect the risk perceptions in the emerging markets. Only weak evidence is found when the Federal Reserve follows a more expansionary policy than expected. For all other cases, the policy surprises of the Federal Reserve are ineffective. © 2006 Taylor & Francis.