Asset Prices, Globalisation, and Implications for Monetary Policy

被引：0
|
作者：
Blejer, Mario I. [1 ]
机构：
[1] Bank England, Ctr Cent Banking Studies, Threadneedle St, London EC2R 8AH, England
来源：
COMPARATIVE ECONOMIC STUDIES | 2007年 / 49卷 / 03期
关键词：
asset prices; monetary policy; income distribution; wealth accumulation;
D O I：
10.1057/palgrave.ces.8100212
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
There is considerable disagreement regarding the role of monetary policy to deal with asset price inflation. It is claimed here, that current asset prices reflect, at least partially, a new equilibrium situation and it is not a bubble. This is the consequence of the globalisation-induced wealth concentration that leads to increase demand for scarce assets. In these conditions, monetary policy should not attempt to control asset prices.
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页码：339 / 344
页数：6
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