Monetary policy and asset prices : the investment channel

Detalhes bibliográficos
Autor(a) principal: Alexandre, Fernando
Data de Publicação: 2005
Outros Autores: Bação, Pedro
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/1822/1645
Resumo: The role of monetary policy during periods of asset price volatility has been the subject of discussion among economists and policymakers at least since the 1920s and the Great Depression that followed. In this paper we survey the recent and rapidly growing literature on this topic, with an emphasis on the investment channel. We present a detailed discussion of the hypotheses that have been used to justify, or criticise, a response to asset prices. These hypotheses concern imperfections in financial markets, bubbles in asset prices, and the information on which firm managers and central banks base their decisions.
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spelling Monetary policy and asset prices : the investment channelInvestmentAsset pricesInflation targetingMonetary policyFundamentalsThe role of monetary policy during periods of asset price volatility has been the subject of discussion among economists and policymakers at least since the 1920s and the Great Depression that followed. In this paper we survey the recent and rapidly growing literature on this topic, with an emphasis on the investment channel. We present a detailed discussion of the hypotheses that have been used to justify, or criticise, a response to asset prices. These hypotheses concern imperfections in financial markets, bubbles in asset prices, and the information on which firm managers and central banks base their decisions.Fundação para a Ciência e a Tecnologia (FCT) – Programa Operacional “Ciência, Tecnologia, Inovação” (POCTI).União Europeia (UE). Fundo Europeu de Desenvolvimento Regional (FEDER) – III Quadro Comunitário de Apoio (QCA III).Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoAlexandre, FernandoBação, Pedro2005-02-022005-02-02T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/1645engALEXANDRE, Fernando ; BAÇÃO, Pedro - “Monetary policy and asset prices : the investment channel” [Em linha]. Braga : Núcleo de Investigação em Políticas Económicas, 2005. [Consult. 18 Maio 2005]. Disponível em: http://www2.eeg.uminho.pt/economia/nipe/WP/WP_NIPE_3_05.pdfinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:04:18Zoai:repositorium.sdum.uminho.pt:1822/1645Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:54:35.449442Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Monetary policy and asset prices : the investment channel
title Monetary policy and asset prices : the investment channel
spellingShingle Monetary policy and asset prices : the investment channel
Alexandre, Fernando
Investment
Asset prices
Inflation targeting
Monetary policy
Fundamentals
title_short Monetary policy and asset prices : the investment channel
title_full Monetary policy and asset prices : the investment channel
title_fullStr Monetary policy and asset prices : the investment channel
title_full_unstemmed Monetary policy and asset prices : the investment channel
title_sort Monetary policy and asset prices : the investment channel
author Alexandre, Fernando
author_facet Alexandre, Fernando
Bação, Pedro
author_role author
author2 Bação, Pedro
author2_role author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Alexandre, Fernando
Bação, Pedro
dc.subject.por.fl_str_mv Investment
Asset prices
Inflation targeting
Monetary policy
Fundamentals
topic Investment
Asset prices
Inflation targeting
Monetary policy
Fundamentals
description The role of monetary policy during periods of asset price volatility has been the subject of discussion among economists and policymakers at least since the 1920s and the Great Depression that followed. In this paper we survey the recent and rapidly growing literature on this topic, with an emphasis on the investment channel. We present a detailed discussion of the hypotheses that have been used to justify, or criticise, a response to asset prices. These hypotheses concern imperfections in financial markets, bubbles in asset prices, and the information on which firm managers and central banks base their decisions.
publishDate 2005
dc.date.none.fl_str_mv 2005-02-02
2005-02-02T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/1822/1645
url http://hdl.handle.net/1822/1645
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv ALEXANDRE, Fernando ; BAÇÃO, Pedro - “Monetary policy and asset prices : the investment channel” [Em linha]. Braga : Núcleo de Investigação em Políticas Económicas, 2005. [Consult. 18 Maio 2005]. Disponível em: http://www2.eeg.uminho.pt/economia/nipe/WP/WP_NIPE_3_05.pdf
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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