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The Stock Market Channel of Monetary Policy High quality books

The Stock Market Channel of Monetary Policy
By:Mr. Thomas F. Cosimano,Connel Fullenkamp,Mr. Ralph Chami
Published on 1999-02-01 by International Monetary Fund

This paper argues that the stock market is an important channel of monetary policy. Monetary policy affects real economic activity because inflation levies a property tax on stocks in addition to an income tax on dividend payments. Inflation thus taxes stocks more heavily than it does bonds. Households alter their required rate of return as inflation changes, and firms adjust production in order to satisfy their shareholders’ demands. As the stock market channel grows in importance, the appropriate intermediate target for the central bank is the price level, with price stability being the ultimate goal.

This Book was ranked at 23 by Google Books for keyword Credit channel.

Book ID of The Stock Market Channel of Monetary Policy's Books is LrEb3qNWdR4C, Book which was written byMr. Thomas F. Cosimano,Connel Fullenkamp,Mr. Ralph Chamihave ETAG "YAGo/fdY8EE"

Book which was published by International Monetary Fund since 1999-02-01 have ISBNs, ISBN 13 Code is 9781451891805 and ISBN 10 Code is 1451891806

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Book which have "25 Pages" is Printed at BOOK under CategoryBusiness and Economics

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