Leseprobe
Table of contents
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
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- Jonathan Horlacher (Autor:in), 2010, Monetary policy, asset prices and the wealth channel, München, GRIN Verlag, https://www.grin.com/document/179138
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