Bordo, Michael David; Dueker, Michael J.; Wheelock, David C. - National Bureau of Economic Research (NBER) - 2008
This paper examines the association between inflation, monetary policy and U.S. stock market conditions during the … episodes and find evidence that inflation and interest rate shocks had particularly strong impacts on market conditions in the … postwar era. Disinflation shocks promoted market booms and inflation shocks contributed to busts. We conclude that central …