Announcements and revisions of Australian macroeconomic data and their news content for Australian financial markets *

Robert D. Brooks; Gabrielle Berman; Sinclair Davidson; T. Y. Tan

doi:10.1016/S1042-4431(99)00007-4

Announcements and revisions of Australian macroeconomic data and their news content for Australian financial markets *

Robert D. Brooks, Gabrielle Berman, Sinclair Davidson, T. Y. Tan

Research output: Contribution to journal › Article › Research › peer-review

3 Citations (Scopus)

Abstract

This paper investigates the responsiveness of nine Australian financial markets to announcements and revisions of balance on current account and GDP data. We find that current account announcements have a significant effect. Globally, the whole set of revisions are not significant but some individual revisions are statistically significant. When we partition announcements and revisions into good news and bad news we find that with respect to announcements only bad news about the current account has a significant impact. While the global set of revisions are not significant, an increased number of isolated revisions are significant. However, our general conclusion as to the overall lack of significance of the revisions data still holds true.

Original language	English
Pages (from-to)	195-215
Number of pages	21
Journal	Journal of International Financial Markets, Institutions and Money
Volume	9
Issue number	2
DOIs	https://doi.org/10.1016/S1042-4431(99)00007-4
Publication status	Published - 1 Jan 1999
Externally published	Yes

Keywords

Data revisions
Macroeconomic announcements
Market efficiency

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10.1016/S1042-4431(99)00007-4

Cite this

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abstract = "This paper investigates the responsiveness of nine Australian financial markets to announcements and revisions of balance on current account and GDP data. We find that current account announcements have a significant effect. Globally, the whole set of revisions are not significant but some individual revisions are statistically significant. When we partition announcements and revisions into good news and bad news we find that with respect to announcements only bad news about the current account has a significant impact. While the global set of revisions are not significant, an increased number of isolated revisions are significant. However, our general conclusion as to the overall lack of significance of the revisions data still holds true.",

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Announcements and revisions of Australian macroeconomic data and their news content for Australian financial markets *. / Brooks, Robert D.; Berman, Gabrielle; Davidson, Sinclair et al.

In: Journal of International Financial Markets, Institutions and Money, Vol. 9, No. 2, 01.01.1999, p. 195-215.

Research output: Contribution to journal › Article › Research › peer-review

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AB - This paper investigates the responsiveness of nine Australian financial markets to announcements and revisions of balance on current account and GDP data. We find that current account announcements have a significant effect. Globally, the whole set of revisions are not significant but some individual revisions are statistically significant. When we partition announcements and revisions into good news and bad news we find that with respect to announcements only bad news about the current account has a significant impact. While the global set of revisions are not significant, an increased number of isolated revisions are significant. However, our general conclusion as to the overall lack of significance of the revisions data still holds true.

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Announcements and revisions of Australian macroeconomic data and their news content for Australian financial markets *

Abstract

Keywords

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