The Role Of The Monetary Policy In Asset Prices Volatility Correction: The Romanian Case
The speculative bubbles of asset prices, and especially their burst out, have a negative impact on the financial stability. As a consequence, a close observation of these prices is necessary. If the opportunity of the intervention is intensely analyzed, the debates related to the instruments of the intervention, differentiated depending on the nature of the assets, are almost inexistent. In this study, we intend to analyze the role of monetary policy in asset prices volatility correction, in the context of the development of the financial and real estate markets in Romania. We show that the interest rate instrument has a reduced importance in financial asset prices volatility correction.
Volume (Year): 12(541)(supplement) (2009)
Issue (Month): 12(541)(supplement) (December)
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