Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/43254
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dc.contributor.authorGerlach, Stefanen_US
dc.contributor.authorAssenmacher-Wesche, Katrinen_US
dc.date.accessioned2009-05-06en_US
dc.date.accessioned2010-12-15T09:22:37Z-
dc.date.available2010-12-15T09:22:37Z-
dc.date.issued2008en_US
dc.identifier.piurn:nbn:de:hebis:30-57680-
dc.identifier.urihttp://hdl.handle.net/10419/43254-
dc.description.abstractWe study the responses of residential property and equity prices, inflation and economic activity to monetary policy shocks in 17 countries, using data spanning 1986-2006, using single-country VARs and panel VARs in which we distinguish between groups of countries depending on their financial systems. The effect of monetary policy on property prices is about three times as large as its impact on GDP. Using monetary policy to guard against financial instability by offsetting asset-price movements thus has sizable effects on economic activity. While the financial structure influences the impact of policy on asset prices, its importance appears limited.en_US
dc.language.isoengen_US
dc.publisher|aGoethe University, Center for Financial Studies (CFS) |cFrankfurt a. M.en_US
dc.relation.ispartofseries|aCFS Working Paper |x2008/30en_US
dc.subject.jelC23en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordAsset Pricesen_US
dc.subject.keywordMonetary Policyen_US
dc.subject.keywordPanel VARen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwSchocken_US
dc.subject.stwImmobilienpreisen_US
dc.subject.stwKapitalstrukturen_US
dc.subject.stwPanelen_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwWelten_US
dc.titleFinancial structure and the impact of monetary policy on asset pricesen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn599230576en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cfswop:200830-

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