Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/1645

TitleMonetary policy and asset prices : the investment channel
Author(s)Alexandre, Fernando
Bação, Pedro
KeywordsInvestment
Asset prices
Inflation targeting
Monetary policy
Fundamentals
Issue date2-Feb-2005
PublisherUniversidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
CitationALEXANDRE, 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(s)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.
TypeWorking paper
URIhttp://hdl.handle.net/1822/1645
AccessOpen access
Appears in Collections:NIPE - Documentos de Trabalho

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