| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12460 |
| DP12460 Asset Prices and Macroeconomic Outcomes: A Survey | |
| M. Ayhan Kose; Stijn Claessens | |
| 发表日期 | 2017-11-23 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | This paper surveys the literature on the linkages between asset prices and macroeconomic outcomes. It focuses on three major questions. First, what are the basic theoretical linkages between asset prices and macroeconomic outcomes? Second, what is the empirical evidence supporting these linkages? And third, what are the main challenges to the theoretical and empirical findings? The survey addresses these questions in the context of four major asset price categories: equity prices, house prices, exchange rates and interest rates, with a particular focus on their international dimensions. It also puts into perspective the evolution of the literature on the determinants of asset prices and their linkages with macroeconomic outcomes, and discusses possible future research directions. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Real-financial linkages Macro-financial linkages Equity prices Imperfections frictions Asset prices |
| URL | https://cepr.org/publications/dp12460 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541271 |
| 推荐引用方式 GB/T 7714 | M. Ayhan Kose,Stijn Claessens. DP12460 Asset Prices and Macroeconomic Outcomes: A Survey. 2017. |
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