The Effects of Monetary Policy on Stock Market Bubbles: Some Evidence

We estimate the response of stock prices to monetary policy shocks using a time-varying coefficients VAR. Our evidence points to protracted episodes in which stock prices end up increasing persistently in response to an exogenous tightening of monetary policy. That response is at odds with the "...

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Bibliographic details
Volume: 7
Main Author: Gali, Jordi
Gambetti, Luca
Format: Journal Article
Language: English
Place of publication: NASHVILLE American Economic Association 01.01.2015
published in: American economic journal. Macroeconomics Vol. 7; no. 1; pp. 233 - 257
ORCID: 0000-0003-4950-7462
Data of publication: 20150101
ISSN: 1945-7707
EISSN: 1945-7715
Discipline: Economics
Online Access: Fulltext
Database: Web of Knowledge
Social Sciences Citation Index
Web of Science
Web of Science - Social Sciences Citation Index - 2015
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