Monetary Policy And Asset Prices

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Asset Prices And Monetary Policy

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Author : John Y. Campbell
language : en
Publisher: University of Chicago Press
Release Date : 2008-11-15

Asset Prices And Monetary Policy written by John Y. Campbell and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11-15 with Business & Economics categories.

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. 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 system. The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.

Asset Prices And Central Bank Policy

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Author : Stephen Giovanni Cecchetti
language : en
Publisher: Centre for Economic Policy Research
Release Date : 2000

Asset Prices And Central Bank Policy written by Stephen Giovanni Cecchetti and has been published by Centre for Economic Policy Research this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.

Concludes the role of asset prices in monetary policy is one of the most important, and difficult, questions confronting central banks.

Asset Price Bubbles

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Author : William Curt Hunter
language : en
Publisher: MIT Press
Release Date : 2005

Asset Price Bubbles written by William Curt Hunter and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.

A study of asset price bubbles and the implications for preventing financial instability.

Asset Prices And Monetary Policy

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Author : Mark Gertler
language : en
Publisher: Centre for Economic Policy Research
Release Date : 1998

Asset Prices And Monetary Policy written by Mark Gertler and has been published by Centre for Economic Policy Research this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Banks and banking, Central categories.

This report collects the views of several prominent scholars and central bankers on whether and how asset price developments can be incorporated in the design of monetary policy. 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.

Central Banking Asset Prices And Financial Fragility

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Author : Éric Tymoigne
language : en
Publisher: Routledge
Release Date : 2008-11-21

Central Banking Asset Prices And Financial Fragility written by Éric Tymoigne and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11-21 with Business & Economics categories.

In this book Tymoigne argues that financial stability should be the sole goal of central banks and suggests an alternative to the inflation targeting framework showing how interest-rate policy can help to solve some of the problems faced by central bankers.

Exploring Aggregate Asset Price Fluctuations Across Countries

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Author : C. E. V. Borio
language : en
Publisher:
Release Date : 1994

Exploring Aggregate Asset Price Fluctuations Across Countries written by C. E. V. Borio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Accounting and price fluctuations categories.

Macroeconomic Patterns And Monetary Policy In The Run Up To Asset Price Busts

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Author : Pau Rabanal
language : en
Publisher: International Monetary Fund
Release Date : 2009-11

Macroeconomic Patterns And Monetary Policy In The Run Up To Asset Price Busts written by Pau Rabanal and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11 with Business & Economics categories.

This paper uses a dynamic economy model, with unionized labor markets, to analyze the effects of labor market reforms, similar to those recently introduced in Germany, on the domestic and trading partner economies. The model is calibrated on Germany and the rest of the Euro area. The results indicate that German labor market reforms have positive spillover effects on the rest of the Euro area, which operate through the channel of trade, relative price adjustment, and financial market integration. Compared to a competitive labor market, setting, unionization dampens the positive response of the domestic economy and magnifies the spillover effects.

Issues In Monetary Policy

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Author : Kent Matthews
language : en
Publisher: John Wiley & Sons
Release Date : 2006-02-22

Issues In Monetary Policy written by Kent Matthews and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-02-22 with Business & Economics categories.

Since the Bank of England was made independent in 1997, the conduct of monetary policy has been relatively uncontroversial. The debates between Keyneisans, monetarists and supporters of fixed exchange rate mechanisms now appear very distant. Despite the apparent consensus there are many issues related to the conduct of monetary policy that are not yet settled and which will soon come to the fore. Is the current form of independence for the Bank of England appropriate? Should a central bank target inflation or the prices level? How does a central bank deal with asset price deflation? Should more account be taken of monetary aggregates? Should central banks target asset prices? What is the relationship between the money supply and asset price inflation? How should central banks ensure financial stability? The IEA was at the forefront of changing the parameters of the debate surrounding monetary policy in the 1970s and 1980s. This text, brings together some of the leading authors in the field, including the current Governor of the Bank of England, to discuss current issues in monetary policy and the relationship between monetary policy and financial markets. It is appropriate for undergraduates and postgraduates in economics and finance as well as for practitioners in financial markets.

Monetary Policy Strategy

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Author : Frederic S. Mishkin
language : en
Publisher: MIT Press
Release Date : 2007

Monetary Policy Strategy written by Frederic S. Mishkin and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Monetary policy categories.

This book by a leading authority on monetary policy offers a unique view of the subject from the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic expert in the field but also a high-level policymaker. He is especially well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategydescribes his work over the last ten years, offering published papers, new introductory material, and a summing up, "Everything You Wanted to Know about Monetary Policy Strategy, But Were Afraid to Ask," which reflects on what we have learned about monetary policy over the last thirty years. Mishkin blends theory, econometric evidence, and extensive case studies of monetary policy in advanced and emerging market and transition economies. Throughout, his focus is on these key areas: the importance of price stability and a nominal anch fiscal and financial preconditions for achieving price stability; central bank independence as an additional precondition; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency and communication; and the role of asset prices in monetary policy.

Asset Prices Booms And Recessions

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Author : Willi Semmler
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-06-15

Asset Prices Booms And Recessions written by Willi Semmler and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-15 with Business & Economics categories.

The financial market melt-down of the years 2007-2009 has posed great challenges for studies on financial economics. This financial economics text focuses on the dynamic interaction of financial markets and economic activity. The financial market to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market; economic activity includes the actions and interactions of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market, and how asset prices and financial market volatility and crises impact economic activity. The book offers extensive coverage of new and advanced topics in financial economics such as the term structure of interest rates, credit derivatives and credit risk, domestic and international portfolio theory, multi-agent and evolutionary approaches, capital asset pricing beyond consumption-based models, and dynamic portfolio decisions. Moreover a completely new section of the book is dedicated to the recent financial market meltdown of the years 2007-2009. Emphasis is placed on empirical evidence relating to episodes of financial instability and financial crises in the U.S. and in Latin American, Asian and Euro-area countries. Overall, the book explains what researchers and practitioners in the financial sector need to know about the financial-real interaction, and what practitioners and policy makers need to know about the financial market.