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|Title: ||Monetary policy and asset prices : the investment channel|
|Authors: ||Alexandre, Fernando|
|Issue date: ||2-Feb-2005|
|Publisher: ||Universidade do Minho. Núcleo de Investigação em Políticas Económicas|
|Citation: ||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|
|Series/Report no.: ||Documentos de trabalho = Working paper series / NIPE ; 3|
|Abstract: ||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.|
|Appears in Collections:||NIPE - Documentos de Trabalho|
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