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Please use this identifier to cite or link to this item: http://hdl.handle.net/2108/168

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contributor.authorBecchetti, Leonardo-
contributor.authorMattesini, Fabrizio-
description.abstractThe paper investigates the relationship between the stock market and the monetary policy of the Federal Reserve in the last twenty years. To this purpose we construct an Index of Stock Price Misalignment in which the fundamental value of the stocks is computed on the basis of the discounted cash flow approach and we then include this index, among the regressors, into a forward looking Taylor rule. Our findings show that the Fed reacts to deviations from fundamental values on the stock exchange by raising the Fed Funds rate.en
format.extent74047 bytes-
relation.ispartofseriesQuaderni CEIS; 154-
subject.classificationSECS-P/01; Economia politicaen
titleThe Stock market and the feden
subject.jelD4; Market structure and pricingen
Appears in Collections:Quaderni

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