Monetary policy and asset prices
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Monetary policy and asset prices a look back at past U.S. stock market booms by Michael D. Bordo

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Published by National Bureau of Economic Research in Cambridge, MA .
Written in English



  • United States


  • Prices -- United States -- Econometric models.,
  • Stocks -- Prices -- United States -- Econometric models.,
  • Real property -- Prices -- United States -- Econometric models.

Book details:

Edition Notes

StatementMichael D. Bordo, David C. Wheelock.
SeriesNBER working paper series ;, working paper 10704, Working paper series (National Bureau of Economic Research : Online) ;, working paper no. 10704.
ContributionsWheelock, David C., National Bureau of Economic Research.
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL3475856M
LC Control Number2005615288

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In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic : Hardcover. Monetary policy, asset prices and the wealth channel [Jonathan Horlacher] on *FREE* shipping on qualifying offers. Bachelor Thesis from the year in the subject Economics - Case Scenarios, grade: von 6, University of St. Gallen. E-book $ to $ About E-books ISBN: Published November Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. The relationship between asset price inflation and commodity price inflation, and more generally the significance of asset prices for monetary policy formulation, has been the subject of intense.

Monetary policy can only control the development of goods prices over the medium to long term. But, in times of large movements of assets prices the debate always starts on whether this concentration of monetary policy on consumer prices alone is appropriate or not. Asset price developments have an influence on spending decisions by companies and. Estimating the response of asset prices to changes in monetary policy is complicated by the endogeneity of policy decisions and the fact that both interest rates and asset prices react to numerous other variables. This paper develops a new estimator that is based on the heteroskedasticity that exists in high frequency by:   Asset prices are currently at very elevated levels. In part this is a consequence of long-running fundamental trends in interest rates. Yet there is substantial empirical evidence that monetary policy encourages risk-taking in the financial system, and the risks of an asset price . European Central Bank (), "Asset Price Bubbles and Monetary Policy" ( MB PDF), Monthly Bulletin (April), p. Return to text. 3. The article's label for this strategy--leaning against the wind--has been used for many years to describe the standard behavior of central banks.

Monetary Policy and Asset Prices Brett Fawley,Research Analyst Luciana Juvenal,Economist The housing market crisis is the latest reminder that asset prices can and do run wild at rates capable of negative effects on real economic activity. Not surprisingly, this has reinvigorated debate over whether central banks should respond to asset price File Size: 87KB. The Effect of Monetary Policy on Real Commodity Prices: Jeffrey A. Frankel (p. - ) (bibliographic info) (Working Paper version) 8. Noisy Macroeconomic Announcements, Monetary Policy, and Asset Prices: Roberto Rigobon, Brian Sack (p. - ) (bibliographic info) (download) (Working Paper version). The views were expressed in a concluding panel discussion of a conference on Asset Prices and Monetary Policy organized by CEPR and the Bank for International Settlements. Book Details 27 Pages. Asset Price Learning and Optimal Monetary Policy Caines, Colin and Fabian Winkler International Finance Discussion Papers Board of Governors of the Federal Reserve System Number August Please cite paper as: Caines, Colin and Fabian Winkler (). Asset Price Learning and Optimal Monetary Policy. International Finance Discussion.