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Monetary policy, asset prices and the wealth channel

Name: Monetary policy, asset prices and the wealth channel
Price: 18.99 EUR
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Author: Jonathan Horlacher
ISBN: 978-3-656-01543-7

A counterfactual analysis of the United Kingdom economy

Bachelor Thesis, 2010

53 Pages, Grade: 5.75 von 6

Jonathan Horlacher (Author)

Excerpt

1 Introduction

2 Asset prices and their effects on the real economy
2.1 Asset prices and asset bubbles
2.2 Effects on the real economy
2.2.1 Wealth channel
2.2.2 Liquidity channel
2.3 Arguments pro and contra monetary action

3 Counterfactual analysis
3.1 Basic model
3.2 Asset prices model
3.3 Methodology
3.4 Dataset
3.5 Parameter estimates
3.6 Impulse response tests

4 Results
4.1 Loss function
4.2 Baseline results compared with reaction to asset prices
4.3 Optimal policy parameters
4.4 Robustness tests
4.4.1 Different baseline error terms
4.4.2 Random shocks
4.4.3 Different magnitude of the wealth channel

5 Conclusion

References

Appendix A: Graphs and statistics

Appendix B: MATLAB code

Excerpt out of 53 pages

Details

Title: Monetary policy, asset prices and the wealth channel
Subtitle: A counterfactual analysis of the United Kingdom economy
College: University of St. Gallen
Grade: 5.75 von 6
Author: Jonathan Horlacher (Author)
Year: 2010
Pages: 53
Catalog Number: V179138
ISBN (eBook): 9783656015437
ISBN (Book): 9783656015130
File size: 645 KB
Language: English
Notes
Keywords: Blasen, Wohlstandskanal, DSGE Modell, Geldpolitik, makroökonomie, monetary policy, wealth channel, macroeconomics, speculative bubbles, Bank of England

Quote paper: Jonathan Horlacher (Author), 2010, Monetary policy, asset prices and the wealth channel, Munich, GRIN Verlag, https://www.grin.com/document/179138

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