Recherches économiques de Louvain
De Boeck Université

I.S.B.N.2-8041-3904-2
284 pages

p. 221 à 237
doi: en cours

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Vol. 68 2002/1-2

Monetary Policy and the New Economy

Between Supply Shock and Financial Bubble  [1]

Eric Dor in Durré
• Introduction
• Some evidence
— The 'New Economy' paradigm and Stock Prices
— Households Financial Investment and Expenditure Behaviour
— The challenges of monetary policy
• A Simple Aggregate Model
— Aggregate Demand and Wealth Effects of Stock Markets
— Aggregate Supply and Technological Shocks
— Stock Market Dynamics, Expected Dividends, Risk Premium and Bubbles
— Equilibrium Condition
— The Informational Structure
— The Optimal Monetary Policy
• The Results
— Solving the model
— Simulation and Interpretation
• Concluding Remarks
• Appendix
• References


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