Should central banks use monetary policy to stabilise asset prices, particularly home and equity prices? Stefan Gerlach, professor of monetary economics, Johann Wolfgang Goethe University of Frankfurt, points out that no central bank has had lowering home prices as one of its policy goals. Gerlach spoke recently at an Economics and Statistics Seminar at the Singapore Management University on how residential property and equity prices, inflation and economic activity responded to monetary policy shocks in 17 countries from 1986 to 2006.
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Can Monetary Policy Help to Stabilise Asset Prices?. (2008). Knowledge@SMU.
Available at: http://ink.library.smu.edu.sg/ksmu/40