{"id":"https://openalex.org/W3022318489","doi":"https://doi.org/10.1111/j.1468-0475.2006.00152.x","title":"Macroeconomic News and Stock Returns in the United States and Germany","display_name":"Macroeconomic News and Stock Returns in the United States and Germany","publication_year":2006,"publication_date":"2006-04-13","ids":{"openalex":"https://openalex.org/W3022318489","doi":"https://doi.org/10.1111/j.1468-0475.2006.00152.x","mag":"3022318489"},"language":"en","primary_location":{"id":"doi:10.1111/j.1468-0475.2006.00152.x","doi":"https://doi.org/10.1111/j.1468-0475.2006.00152.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1468-0475.2006.00152.x","pdf_url":null,"source":{"id":"https://openalex.org/S13669392","display_name":"German Economic Review","issn_l":"1465-6485","issn":["1465-6485","1468-0475"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"German Economic Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5002782732","display_name":"Norbert Funke","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1310145890","display_name":"International Monetary Fund","ror":"https://ror.org/05m4rmw09","country_code":"US","type":"other","lineage":["https://openalex.org/I1310145890"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Norbert Funke","raw_affiliation_strings":["International Monetary Fund, Washington, D.C. , United States of America"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"International Monetary Fund, Washington, D.C. , United States of America","institution_ids":["https://openalex.org/I1310145890"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5021917892","display_name":"Akimi Matsuda","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Akimi Matsuda","raw_affiliation_strings":["New York University, New York City , United States of America"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"New York University, New York City , United States of America","institution_ids":["https://openalex.org/I57206974"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":0,"currency":"EUR","value_usd":0},"apc_paid":null,"fwci":3.4028,"has_fulltext":false,"cited_by_count":50,"citation_normalized_percentile":{"value":0.93381483,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"7","issue":"2","first_page":"189","last_page":"210"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9789999723434448,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9789999723434448,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.01640000008046627,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.002199999988079071,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/macroeconomic-news","display_name":"macroeconomic news","score":0.9959999918937683},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.9879999756813049},{"id":"https://openalex.org/keywords/gdp-growth","display_name":"GDP growth","score":0.5809999704360962},{"id":"https://openalex.org/keywords/unemployment","display_name":"unemployment","score":0.9269999861717224},{"id":"https://openalex.org/keywords/interest-rates","display_name":"interest rates","score":0.8610000014305115},{"id":"https://openalex.org/keywords/us-stock-market","display_name":"US stock market","score":0.7129999995231628},{"id":"https://openalex.org/keywords/german-stock-market","display_name":"German stock market","score":0.9909999966621399},{"id":"https://openalex.org/keywords/cross-national-comparison","display_name":"cross-national comparison","score":0.6050000190734863}],"concepts":[{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.7324817180633545},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7183414697647095},{"id":"https://openalex.org/C141441539","wikidata":"https://www.wikidata.org/wiki/Q1970908","display_name":"Boom","level":2,"score":0.5792942047119141},{"id":"https://openalex.org/C195742910","wikidata":"https://www.wikidata.org/wiki/Q176494","display_name":"Recession","level":2,"score":0.568037211894989},{"id":"https://openalex.org/C2778126366","wikidata":"https://www.wikidata.org/wiki/Q41171","display_name":"Unemployment","level":2,"score":0.4996058940887451},{"id":"https://openalex.org/C154775046","wikidata":"https://www.wikidata.org/wiki/Q188","display_name":"German","level":2,"score":0.49825048446655273},{"id":"https://openalex.org/C103648661","wikidata":"https://www.wikidata.org/wiki/Q7019453","display_name":"News analytics","level":2,"score":0.4597182273864746},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4596315324306488},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.33653566241264343},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.18370017409324646},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.14196917414665222},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.09284669160842896},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C87717796","wikidata":"https://www.wikidata.org/wiki/Q146326","display_name":"Environmental engineering","level":1,"score":0.0},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/j.1468-0475.2006.00152.x","doi":"https://doi.org/10.1111/j.1468-0475.2006.00152.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1468-0475.2006.00152.x","pdf_url":null,"source":{"id":"https://openalex.org/S13669392","display_name":"German Economic Review","issn_l":"1465-6485","issn":["1465-6485","1468-0475"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"German Economic Review","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:bla:germec:v:7:y:2006:i::p:189-210","doi":null,"is_oa":false,"landing_page_url":"http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0475.2006.00152.x","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":25,"referenced_works":["https://openalex.org/W1533508047","https://openalex.org/W1965162452","https://openalex.org/W1999814123","https://openalex.org/W2000350663","https://openalex.org/W2000757558","https://openalex.org/W2001340398","https://openalex.org/W2007567810","https://openalex.org/W2034753846","https://openalex.org/W2041802488","https://openalex.org/W2059477555","https://openalex.org/W2065761006","https://openalex.org/W2084203348","https://openalex.org/W2094777283","https://openalex.org/W2098347405","https://openalex.org/W2098612888","https://openalex.org/W2118641185","https://openalex.org/W2156923063","https://openalex.org/W2160747540","https://openalex.org/W2891758535","https://openalex.org/W2892133607","https://openalex.org/W2892218882","https://openalex.org/W2954828794","https://openalex.org/W3122037884","https://openalex.org/W3123162155","https://openalex.org/W3123216131"],"related_works":["https://openalex.org/W1512703058","https://openalex.org/W1493688540","https://openalex.org/W2129655164","https://openalex.org/W2009521345","https://openalex.org/W4310732497","https://openalex.org/W2252530077","https://openalex.org/W3092865950","https://openalex.org/W2740028407","https://openalex.org/W3125883770","https://openalex.org/W2027278580"],"abstract_inverted_index":{"Abstract":[0],"Using":[1],"daily":[2],"data":[3,140],"for":[4,39,49,58,90,102,141],"the":[5,18,27,40,52,94,109],"January":[6],"1997":[7],"to":[8,64],"June":[9],"2002":[10],"period,":[11,70],"we":[12,55],"analyze":[13],"similarities":[14],"and":[15,30,43,77],"differences":[16],"in":[17,26,105,108],"impact":[19],"of":[20,37,47,61,111,138],"macroeconomic":[21],"news":[22,38,48,73,89,114],"on":[23,74],"stock":[24,62,91,129],"returns":[25],"United":[28,41,53],"States":[29,42],"Germany.":[31,50,106],"We":[32],"consider":[33],"27":[34],"different":[35,45],"types":[36,46],"12":[44],"For":[51],"States,":[54],"present":[56],"evidence":[57,101,126],"asymmetric":[59,103],"reactions":[60],"prices":[63,130],"news.":[65,122,135],"In":[66,93],"a":[67],"boom":[68],"(recession)":[69],"bad":[71],"(good)":[72],"GDP":[75],"growth":[76],"unemployment":[78],"or":[79],"lower":[80],"(higher)":[81],"than":[82],"expected":[83],"interest":[84],"rates":[85],"may":[86],"be":[87],"good":[88],"prices.":[92],"period":[95],"under":[96],"consideration":[97],"there":[98],"is":[99,124],"little":[100],"effects":[104],"However,":[107],"case":[110],"Germany,":[112],"international":[113],"appears":[115],"at":[116],"least":[117],"as":[118,120],"important":[119],"domestic":[121],"There":[123],"no":[125],"that":[127],"US":[128],"are":[131],"influenced":[132],"by":[133],"German":[134],"The":[136],"analysis":[137],"bi-hourly":[139],"Germany":[142],"confirms":[143],"these":[144],"results.":[145]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":7},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":4},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":5},{"year":2012,"cited_by_count":3}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2020-05-13T00:00:00"}