Preço de ativos e política monetária: uma resenha da literatura / Asset price and monetary policy: a literature overview

AUTOR(ES)
DATA DE PUBLICAÇÃO

2010

RESUMO

This work evaluates different visions pursuant to the reaction or not of the central banks to asset price, with a deep theory revision about such subject and the concepts used by the critics and defenders of the reaction. The analyses herein focus on the main critic, which is the difficulty to identify the existence of asset price bubbles, taking in consideration some of the main methodologies used by the economists. Two econometric methodologies are used to try to identify potential bubble periods in the Brazilian stock exchange market during the last three decades. In addition, as complementary evaluation, and also related to Brazil, there are analysis about (i) the predictive power of asset prices to inflation and output and (ii) an augmented Taylor rule analysis including asset prices

ASSUNTO(S)

economia asset prices monetary policy preço de ativos política monetária

ACESSO AO ARTIGO

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