Monetary policy, asset prices and financial institutions

Philip Booth

Chapter 8 in Money in the Great Recession, 2017, pp 185-207 from Edward Elgar Publishing

Abstract: Asset price movements before, during and after the Great Recession were extreme, and had an important role in motivating the fluctuations in expenditure. Economic theory has several theories of the determination of asset prices, including the controversial so-called ‘efficient markets hypothesis’. Some economists have argued that changes in the quantity of money have an important bearing on changes in the prices of assets in general. The chapter compares and contrasts the ideas put forward by these economists with other approaches, notably from the New Classical thinking and New Keynesianism, and from the Austrian School.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
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Journal Article: Monetary policy, asset prices and financial institutions (2014)
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