Does the Federal Reserve affect asset prices?

Article Abstract:

The effect of monetary policy as implemented by the Federal Reserve on interest rates and asset prices is investigated. It is shown that open market operations have an effect on interest rates, both in the short and long run. The Federal Reserve's effect on bond prices may initially be puzzling considering the relatively small amount of its transactions. This disproportionate effect can be attributed to the high information content of the bank's transactions.

Interest rates

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Employing the extended Kalman filter in measuring the output gap

Article Abstract:

A method of determining the output gap and potential output series based on Kalman filter is presented. The method uses data from Turkish economy during the past 15 years for the purpose. The relationship between inflation and output gap is also established based on the same data.

Turkey, Analysis, Inflation (Finance), Industrial productivity, Inflation (Economics), Productivity

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Price stability vs. output stability: tales of federal reserve administrations

Article Abstract:

A study of price policy by the last three Federal Reserve Boards reveals that more importance was given to price stability than to output. Shortages, such as the oil shortages of the 70's, brought about high inflation and depression.

United States, Government expenditures, Science & research, Elasticity (Economics)

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