Gerlach, Stefan; Assenmacher-Wesche, Katrin - 2008
We study the responses of residential property and equity prices, inflation and economic activity to monetary policy … equity prices, inflation and economic
activity to monetary policy shocks in 17 countries, using data spanning 1986 … asset
prices “over and beyond” what such changes imply for the path of aggregate demand and
inflation (Borio and Lowe 2002 …