The indicator role of asset prices

Release date
01/09/1994
Reference
Vol. 57. No. 3. September 1994
Author
Craig Ebert
Main file
This article discusses the information content of asset prices and their potential role in the Bank's checklist of monetary indicators. A preliminary empirical analysis of the relationship between asset prices, real economic activity and inflation suggest that asset prices have some useful indicator value, but insufficiently reliable to serve as key guides for policy.