Financial Asset Valuations: The Total Demand Approach
| العنوان: | Financial Asset Valuations: The Total Demand Approach |
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| المؤلفون: | Vytautas Žukauskas, Jörg Guido Hülsmann |
| المساهمون: | Groupe de Recherche Angevin en Economie et Management (GRANEM), Université d'Angers (UA)-AGROCAMPUS OUEST, Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut National de l'Horticulture et du Paysage, Université d'Angers (UA)-AGROCAMPUS OUEST-Institut National de l'Horticulture et du Paysage |
| المصدر: | Quarterly Review of Economics and Finance Quarterly Review of Economics and Finance, Elsevier, 2019, 72, pp.121-131. ⟨10.1016/j.qref.2018.11.004⟩ |
| بيانات النشر: | HAL CCSD, 2019. |
| سنة النشر: | 2019 |
| مصطلحات موضوعية: | Economics and Econometrics, Financial asset, media_common.quotation_subject, central banks, monetary policy, Monetary economics, Standard view, subjective value, 0502 economics and business, Economics, Capital asset pricing model, Quality (business), financial markets, 050207 economics, fiat money, media_common, 050208 finance, Fiat money, value theory, 05 social sciences, Financial market, Monetary policy, asset pricing, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, Value theory, Finance |
| الوصف: | International audience; This article provides an explanation of how monetary policy impacts the prices of financial assets relative to the prices of non-financial assets. In the standard view, monetary policy has no such effect. It may influence financial-asset prices in various ways, but it does not all by itself entail any tendency for financial-asset prices to rise faster than the prices of non-financial assets. We argue that the neglected “total demand approach” sheds a different light on this issue. Total-demand theory shows that monetary policy may have such a consequence. It also brings the additional advantage of simplifying the theory of monetary policy, in that it allows to conceptualise unconventional monetary policy and changes in the quality of money within a single theoretical framework. |
| اللغة: | English |
| تدمد: | 1062-9769 |
| الوصول الحر: | https://explore.openaire.eu/search/publication?articleId=doi_dedup___::10cf6c0ee94684fec00052058e9f83aaTest https://hal.univ-angers.fr/hal-02558948Test |
| حقوق: | CLOSED |
| رقم الانضمام: | edsair.doi.dedup.....10cf6c0ee94684fec00052058e9f83aa |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 10629769 |
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