Macroeconomic variables and stock markets: an international study

• Ana Escribano ^[1] ; Alberto Cuenca ^[1] ; Francisco Jareno ^[1]
  1. [1] Universidad de Castilla-La Mancha

     Universidad de Castilla-La Mancha

     Ciudad Real, España

     
• Localización: Applied econometrics and international development, ISSN 1578-4487, Vol. 19, Nº. 1, 2019, págs. 43-54
• Idioma: inglés
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• Resumen

  • This paper studies the potential correlation between the stock market of six relevant countries (Germany, Italy, Spain, France, UK and US) and some important macroeconomic factors, such as the gross domestic product (GDP), the consumer price index (CPI), the industrial production index (IPI) and the unemployment (UNEMP). GDP and UNEMP show statistically significant correlation with these international stock markets, mainly in the crisis sub-period, finding, in addition, the expected signs