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Stock Market Stimulus / Robin Greenwood, Toomas Laarits, Jeffrey Wurgler.
- Format:
- Book
- Author/Creator:
- Greenwood, Robin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w29827.
- NBER working paper series no. w29827
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2022.
- Summary:
- We study the stock market effects of the arrival of the three rounds of "stimulus checks" to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of retail-dominated portfolios. The Hong Kong payments increased overall turnover and share prices on the Hong Kong Stock Exchange. We cannot rule out that these price effects were permanent. The findings raise novel questions about the role of fiscal stimulus in the stock market.
- Notes:
- Print version record
- March 2022.
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