Asset prices and macroeconomic outcomes: A survey

Arbeitspapier

This paper surveys the literature on the linkages between asset prices and macroeconomic outcomes. It focuses on three major questions. First, what are the basic theoretical linkages between asset prices and macroeconomic outcomes? Second, what is the empirical evidence supporting these linkages? And third, what are the main challenges to the theoretical and empirical findings? The survey addresses these questions in the context of four major asset price categories: equity prices, house prices, exchange rates and interest rates, with a particular focus on their international dimensions. It also puts into perspective the evolution of the literature on the determinants of asset prices and their linkages with macroeconomic outcomes, and discusses possible future research directions.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 1718

Klassifikation und Themen

• Klassifikation: Wirtschaft ; General Equilibrium and Disequilibrium: Financial Markets ; Macroeconomics: Consumption; Saving; Wealth ; Business Fluctuations; Cycles ; Financial Markets and the Macroeconomy ; Money Supply; Credit; Money Multipliers ; Financial Aspects of Economic Integration ; International Business Cycles ; Economic Impacts of Globalization: Finance ; Financial Crises ; General Financial Markets: General (includes Measurement and Data) ; Asset Pricing; Trading Volume; Bond Interest Rates ; Information and Market Efficiency; Event Studies; Insider Trading ; International Financial Markets ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages
• Thema: Equity prices ; exchange rates ; house prices ; interest rates ; credit ; output ; consumption ; investment ; real-financial linkages ; macro-financial linkages ; imperfections ; frictions

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Claessens, Stijn ; Kose, M. Ayhan
• Ereignis: Veröffentlichung
• (wer): Koç University-TÜSİAD Economic Research Forum (ERF)
• (wo): Istanbul
• (wann): 2017

Weitere Informationen

• Handle: http://hdl.handle.net/10419/202972
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ