Why Doesn’t Monetary Policy Respond to Asset Prices? (notice n° 157195)
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|---|---|
| fixed length control field | 01202cam a2200181 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112031840.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Artus, Patrick |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Why Doesn’t Monetary Policy Respond to Asset Prices? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2003.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 97 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | In most countries, monetary policy does not respond significantly to asset prices (real estate prices or stock market prices). A number of explanations have been suggested, such as the inability to control asset prices and the difficulty of determining “normal” asset prices. This article adds another explanation: in some cases, the best monetary policy is not to respond to changes in asset prices. Our theoretical dynamic model of the formation of the price of goods and of asset prices shows that it is best not to respond to changes in asset prices if the Central Bank focuses on the stabilization of output in the case of sudden changes in demand. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | monetary rule |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | asset prices |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Economie & prévision | o 158 | 2 | 2003-04-01 | p. 61-71 | 0249-4744 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-economie-et-prevision-1-2003-2-page-61?lang=en">https://shs.cairn.info/journal-economie-et-prevision-1-2003-2-page-61?lang=en</a> |
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