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In this paper the authors present a New Keynesian quantitative model with endogenous investment and stock-market sector that may shed further light on two unsettled issues: whether central banks should include some financial indicator in their policy rules, and which indicator may be expected to...
Persistent link: https://www.econbiz.de/10010308738
durch beispiellose staatliche Rettungsaktionen und eine extrem lockere Geldpolitik seitens der Zentralbanken konnte die …
Persistent link: https://www.econbiz.de/10011795640
Folgen hätte ein plötzlicher Kursrückgang für die Realwirtschaft? Wann sollte die Geldpolitik eingreifen? …
Persistent link: https://www.econbiz.de/10010302100
Bank bemüht, mit Zinssenkungen dagegenzuhalten. Wie konnte es zu der Kursblase kommen? Hat die Geldpolitik hier versagt? …
Persistent link: https://www.econbiz.de/10010302406
, der Inflationsrate und der Geldpolitik in der Umgebung von Aktien- und Immobilienpreisblasen. Als zentrales Ergebnis kann …
Persistent link: https://www.econbiz.de/10011692576
We investigate the role of monetary policy in stock price misalignments and explore whether central banks can attenuate excessive mispricing as suggested by the proponents of a "leaning against the wind" monetary policy. Decomposing stock prices into expected excess dividends, an equity risk...
Persistent link: https://www.econbiz.de/10015101864
This paper analyzes two instruments - asset-based reserve requirements put forward by Thomas Palley and asset-based capital requirements proposed by Charles Goodhart and Avinash Persaud - regarding their merits in reducing excessive asset price inflation. A theoretical framework of asset pricing...
Persistent link: https://www.econbiz.de/10014363152
This paper offers a narrative description of Western European monetary policies during the 1980s, seen from a French and European perspective and based on the archives of the General Council of the Bank of France and of the Committee of Governors (CoG) of the central banks of the member states...
Persistent link: https://www.econbiz.de/10015206902
After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...
Persistent link: https://www.econbiz.de/10014334696
Persistent link: https://www.econbiz.de/10014334698