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Monetary policy and mispricing in stock markets

Beckers, Benjamin; Bernoth, Kerstin - 2016

asset pricing in line with rational bubbles. We show that the response of the excessive stock price component to a monetary …

Persistent link: https://www.econbiz.de/10011526074

Bank of Japan's exchange-traded fund purchases as an unprecedented monetary easing policy

Shirai, Sayuri - 2018

This paper highlights exchange-traded funds (ETF) purchases conducted by the Bank of Japan under Quantitative and Qualitative Monetary Easing with Yield Curve Control. The policy to indirectly purchase stocks is unprecedented in terms of the scale and duration among major central banks. The...

Persistent link: https://www.econbiz.de/10011894177

Some important characteristics of asset bubbles and financial crises

Yip, Paul S. L. - In: Modern economy 9 (2018) 7, pp. 1137-1168

Persistent link: https://www.econbiz.de/10011914499

Financial fragility, bubbles and monetary policy

Illing, Gerhard - 2001

The paper models the links between financial fragility, asset markets and monetary policy. It is shown that central bank's concern about the cost of financial disruption generates an asymmetric response, thus contributing to the creation of an asset price bubble. In an economy with a highly...

Persistent link: https://www.econbiz.de/10011398119

The real-time predictive content of asset price bubbles for macro forecasts

Beckers, Benjamin - 2015

price bubbles. Against this background, the paper evaluates if new advances in real-time bubble detection, as brought … the bubbles in the sample. Therefore, the paper suggests a combination approach of different bubble indicators which helps … to account for the uncertainty around start and end dates of asset price bubbles. Additionally, the paper then …

Persistent link: https://www.econbiz.de/10011300629

Monetary policy and asset prices : when cleaning up hits the zero lower bound

Berger, Wolfram; Kißmer, Friedrich - In: Swiss journal of economics and statistics 149 (2013) 3, pp. 291-312

Recently, convincing evidence has been presented that the recession in the wake of the recent financial crisis resulted primarily from an overly levered housing sector that was forced to deleverage and cut consumption spending when faced with collapsing housing prices. Following this...

Persistent link: https://www.econbiz.de/10010193801