Asset Prices, Asymmetries and Aggregation in the Euro Area

David Mayes and Matti Viren ()
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Matti Viren: University of Turku, Finland

Chapter 1 in FindEcon Monograph Series: Advances in Financial Market Analysis, 2011, vol. 9, pp 11-33 from University of Lodz

Abstract: In the first chapter David Mayes and Matti Viren in large international panel study the contribution of asset prices to fluctuations in economic activity. They find strong impact of house prices on business cycle, and rather weak and asymmetric effects of stock prices. The authors propose to incorporate asset prices returns in broad Financial Condition Indicator to assist monetary policy.

Keywords: Asset prices; Business cycle; Monetary policy (search for similar items in EconPapers)
JEL-codes: C01 E02 F00 G00 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (2)

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