Asset prices and monetary policy / edited by John Y. Campbell.

Format:

Book

Contributor:

Campbell, John Y.

National Bureau of Economic Research.

Series:

National Bureau of Economic Research conference report.

A National Bureau of Economic Research conference report

Language:

English

Subjects (All):

Monetary policy.

Securities--Prices.

Securities.

Speculation.

Capital assets pricing model.

Investment analysis--Mathematics.

Investment analysis.

Capital investments.

Physical Description:

1 online resource (444 p.)

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, 2008.

Language Note:

English

System Details:

Mode of access: World Wide Web.

Summary:

Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic system. The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.

Contents:

Measuring the macroeconomic risks posed by asset price booms / Stephen G. Cecchetti

Expectations, asset prices, and monetary policy : the role of learning / Simon Gilchrist and Masashi Saito

Optimal monetary policy with collateralized household debt and borrowing constraints / Tommaso Monacelli

Inflation illusion, credit, and asset prices / Monika Piazzesi and Martin Schneider

Learning, macroeconomic dynamics, and the term structure of interest rates / Hans Dewachter and Marco Lyrio

Revealing the secrets of the temple : the value of publishing central bank interest rate projections / Glenn D. Rudebusch and John C. Williams

The effect of monetary policy on real commodity prices / Jeffrey A. Frankel

Noisy macroeconomic announcements, monetary policy, and asset prices / Roberto Rigobon and Brian Sack

Is bad news about inflation good news for the exchange rate? And, if so, can that tell us anything about the conduct of monetary policy? / Richard H. Clarida and Daniel Waldman.

Notes:

Description based upon print version of record.

Includes bibliographical references and indexes.

ISBN:

9786611959296

9781281959294

1281959294

9780226092126

0226092127

OCLC:

304611211