Fuhrer, Jeff; Tootell, Geoff - In: Journal of Monetary Economics 55 (2008) 4, pp. 796-805
Since the stock market boom of the 1990s, many have suggested the Federal Open Market Committee (FOMC) has adopted an unannounced policy goal of supporting equity values. This paper offers a new approach to disentangle the relationship between changes in equity values and monetary policy....