This paper investigates the impact of monetary policy on stock returns in 13 OECD countries
over the period 1972–2002. Our results indicate that monetary policy shifts significantly …

Abstract The Working Papers should not be reported as representing the views of the Banco
Central do Brasil. The views expressed in the papers are those of the author (s) and do not …

We test the hypothesis that policy interventions in crisis periods are less effective when
markets are integrated, drawing on China and Russia's experience during the global …

We investigate empirically whether a central bank can promote financial stability by
stabilizing inflation and output, and whether additional stabilization of asset prices and credit …

We combine a simple agent-based model of financial markets and a New Keynesian
macroeconomic model with bounded rationality via two straightforward channels. The result …

This paper investigates the impact of monetary policy on stock returns in thirteen OECD
countries over the period 1972-2002. Our results indicate that monetary policy shifts …

This paper analyses the relationship between monetary policy and asset prices in the
context of optimal policy rules. The transmission mechanism is represented by a linearized …

This article presents a macro-finance-interaction model that integrates a NKM with bounded
rationality and an agent-based financial market model. We derive four interactive channels …

Abstract Extending Obstfeld and Rogoff (J Econ Perspect 9: 73–96, 1995), Ball (Monetary
policy rules, University of Chicago Press, pp. 127–144, 1999), Svensson (J Int Econ 50: 155 …

In the present paper we propose a model in which the real side of the economy, described
via a Keynesian good market approach, interacts with the stock market with heterogeneous …