| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14019 |
| 来源ID | Working Paper 14019 |
| Inflation, Monetary Policy and Stock Market Conditions | |
| Michael D. Bordo; Michael J. Dueker; David C. Wheelock | |
| 发表日期 | 2008-05-23 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | This paper examines the association between inflation, monetary policy and U.S. stock market conditions during the second half of the 20th century. We estimate a latent variable VAR to examine how macroeconomic and policy shocks affect the condition of the stock market. Further, we examine the contribution of various shocks to market conditions during particular episodes and find evidence that inflation and interest rate shocks had particularly strong impacts on market conditions in the postwar era. Disinflation shocks promoted market booms and inflation shocks contributed to busts. We conclude that central banks can contribute to financial market stability by minimizing unanticipated changes in inflation. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy ; Financial Economics ; Portfolio Selection and Asset Pricing ; History ; Macroeconomic History ; Financial History |
| URL | https://www.nber.org/papers/w14019 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571694 |
| 推荐引用方式 GB/T 7714 | Michael D. Bordo,Michael J. Dueker,David C. Wheelock. Inflation, Monetary Policy and Stock Market Conditions. 2008. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14019.pdf（173KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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