Graduation Year

2017

Date of Submission

12-2016

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Eric Hughson

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Terms of Use for work posted in Scholarship@Claremont.

Rights Information

© 2016 Yunyi Wang

Abstract

This paper uses Federal Funds Futures and the industry returns to analyze the Federal Reserve Policy's influence on Wall Street firms. According to the results, Wall Street produces high returns in response to the monetary policy when compared to other industries. While this positive response is consistent to both interest hikes and cuts, there exists significant cross-firm and cross-period variation. Besides, the result is robust to the alternative measure of event days and employment release.

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