Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/30379
Registo completo
Campo DC | Valor | Idioma |
---|---|---|
dc.contributor.author | Sousa, Ricardo M. | por |
dc.date.accessioned | 2014-10-03T13:27:38Z | - |
dc.date.available | 2014-10-03T13:27:38Z | - |
dc.date.issued | 2014 | - |
dc.identifier.issn | 1467-8586 | por |
dc.identifier.uri | https://hdl.handle.net/1822/30379 | - |
dc.description.abstract | I look at the linkages between monetary policy and asset wealth using quarterly data for the USA. I show that a positive interest rate shock leads to a fall in aggregate wealth and an important change in portfolio composition: housing wealth gradually decreases, but the effects are very persistent; and financial wealth quickly shrinks, but the impact is short-lived. I also find that the money market can be characterized as follows: (i) the money demand has a large interest elasticity and a small output elasticity; and (ii) the estimated monetary policy reaction function highlights the special focus given by the central bank to developments in monetary aggregates. These features call for an approach whereby monetary authorities put more emphasis on tracking wealth developments, in particular, given the asset portfolio rebalancing between money holdings and financial and/or housing assets. | por |
dc.description.sponsorship | COMPETE | por |
dc.description.sponsorship | QREN | por |
dc.description.sponsorship | FEDER | por |
dc.description.sponsorship | Fundação para a Ciência e a Tecnologia (FCT) | por |
dc.language.iso | eng | por |
dc.publisher | Wiley | por |
dc.rights | restrictedAccess | por |
dc.subject | Asset portfolio | por |
dc.subject | Money demand | por |
dc.subject | Policy rule | por |
dc.subject | Wealth | por |
dc.subject | E37 | por |
dc.subject | E52 | por |
dc.title | Wealth, asset portfolio, money demand and policy rule | por |
dc.type | article | por |
dc.peerreviewed | yes | por |
dc.relation.publisherversion | http://onlinelibrary.wiley.com/doi/10.1111/j.1467-8586.2011.00431.x/abstract | por |
sdum.publicationstatus | published | por |
oaire.citationStartPage | 95 | por |
oaire.citationEndPage | 111 | por |
oaire.citationIssue | 1 | por |
oaire.citationTitle | Bulletin of Economic Research | por |
oaire.citationVolume | 66 | por |
dc.identifier.doi | 10.1111/j.1467-8586.2011.00431.x | - |
dc.subject.wos | Social Sciences | por |
sdum.journal | Bulletin of Economic Research | por |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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Wealth.pdf Acesso restrito! | WEALTH, ASSET PORTFOLIO, MONEY DEMAND AND POLICY RULE | 7,18 MB | Adobe PDF | Ver/Abrir |