What is the effect of unconventional monetary policy on asset prices? – A literature review
Paavola, Aleksi (01.02.2016)
Julkaisija
Bank of Finland
2016
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-201602051023Tiivistelmä
Following the financial crisis and the subsequent decrease in economic growth, major central banks have cut interest rates close to zero and introduced non-standard policy measures, such as outright asset purchases, to stimulate the economy. What are the theoretical foundations of these policies and what do we know about their effects on financial asset prices?