What is the effect of unconventional monetary policy on asset prices? – A literature review
Paavola, Aleksi (01.02.2016)
JulkaisusarjaBank of Finland Bulletin. Analysis
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201602051023
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?