2009•The Journal of Financial ResearchRequires access
On the Asset Prices and Monetary Policy
Xiaohu Zhang
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Abstract
In the context of the global financial crisis,there is a debate on whether monetary policy should respond to asset price volatility.In this paper,the relevant theory is summarized,and the relationship between monetary policy and asset prices is discussed from the perspective of the mechanism of inflation.Monetary-policy framework should been established which paid more attention to asset price volatility.