Exploring Aggregate Asset Price Fluctuations Across Countries: Measurement, Determinants and Monetary Policy ImplicationsBank for International Settlements, Monetary and Economic Department, 1994 - 104 síður |
Efni
Introduction | 11 |
Explaining the aggregate asset price movements | 20 |
Formal statistical evidence | 33 |
Höfundarréttur | |
4 aðrir hlutar ekki sýndir
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Common terms and phrases
adjustment aggregate asset price aggregate index analysis asset price index asset price movements asset price term asset prices Table Augmented Dickey-Fuller test Australia balance sheets behaviour Belgium bivariate business assets Canada Central bank cial property property cient tistic Coeffi coefficient cointegration Commer commercial property components corporate equities correlation countries experiencing credit constraints demand for money Denmark difference economic elasticities equation Equities tial cial equity prices estimates explanatory power Finland forecast errors France Germany Granger-causality Graph included Income velocity indices information content interest rates Japan lagged largest asset price markets monetary policy money stock Netherlands nominal Nordic countries Norway OECD p-value period prices and real property prices proxy real aggregate asset real asset price real estate prices regression relationship Residen residential and commercial residential property Source statistically significant sub-periods Sweden t-sta t-statistic tial cial property tion United Kingdom velocity of money weights