Monetary policy, asset prices, and uncertainty

• Autor(es): Alexandre, Fernando ; Bação, Pedro
• Data: 2005
• Identificador Persistente: http://hdl.handle.net/10316/5495
• Origem: Estudo Geral - Universidade de Coimbra
• Assunto(s): Monetary policy; Asset prices; Uncertainty
• Tipo de Documento: Artigo
• Idioma: Inglês

Descrição

We show that the benefits from reacting to misalignments in asset prices may disappear when there is noise in the variables to which the monetary policy instrument responds, and this noise is positively correlated across variables. http://www.sciencedirect.com/science/article/B6V84-4DF4BG3-3/1/61435ab18474fbfc482cd00c0d067e09