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Stock Market Booms and Monetary Policy in the Twentieth Century
16 references·6 citing·43 second hop
Stock Market Booms and Monetary Policy in the Twentieth Century (2007)Stock Market Booms and Monetary Policy in…What Explains the Stock Market's Reaction to Federal Reserve Policy? (2005)What Explains the Stock Marke…INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY (2005)INTEREST AND PRICES: FOUNDATI…Asset Prices, Financial and Monetary Stability: Exploring the Nexus (2005)Asset Prices, Financial and M…The world economy: historical statistics (2004)The world economy: historical…Measuring The Reaction of Monetary Policy to the Stock Market (2003)Measuring The Reaction of Mon…Asset prices, financial and monetary stability: exploring the nexus (2002)Asset prices, financial and m…A simple framework for analysing bull and bear markets (2002)A simple framework for analys…Long-Term Global Market Correlations (2001)Long-Term Global Market Corre…Is the crisis problem growing more severe? 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(2014)Networks of Power: Electrification in Western Society (1984)Networks of Power: Electrification in Western Society, 1880-1930 (1984)High Access and Low Use of Technologies in High School Classrooms: Explaining an Apparent Paradox (2001)Computing Productivity: Firm-Level Evidence (2003)The Knowledge Economy (2004)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Expected stock returns and volatility (1987)Efficient Capital Markets: II (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)Looting: The Economic Underworld of Bankruptcy for Profit (1993)Exchange Market Mayhem: The Antecedents and Aftermath of Speculative Attacks (1995)The Twin Crises: The Causes of Banking and Balance-of-Payments Problems (1999)The Real Effect of Banking Crises (2005)This Time is Different: A Panoramic View of Eight Centuries of Financial Crises (2008)Stories of the Twentieth Century for the Twenty-First (2012)Econometric policy evaluation: A critique (1976)Rules, discretion and reputation in a model of monetary policy (1983)Monetary Policy and Exchange Rate Volatility in a Small Open Economy (2005)Time Varying Structural Vector Autoregressions and Monetary Policy (2005)Housing Market Spillovers: Evidence from an Estimated DSGE Model (2010)What Have We Learned About the Causes of Corruption from Ten Years of Cross-National Empirical Research? 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(1989)Equilibria under ‘active’ and ‘passive’ monetary and fiscal policies (1991)Economic Freedom of the World: 2022 Annual Report (2022)Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment (1995)Technology and International Differences in Growth Rates (2016)Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics (2017)
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References

  • 2005INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY5,508 cited
  • 1977Asset returns and inflation2,701 cited
  • 2005What Explains the Stock Market's Reaction to Federal Reserve Policy?2,382 cited
  • 1964A Monetary History of the United States 1867-19602,110 cited
  • 1964A Monetary History of the United States, 1867-19601,752 cited
  • 2004The world economy: historical statistics1,442 cited
  • 1990The Dynamo and the Computer: An Historical Perspective on the Modern Productivity Paradox1,345 cited
  • 2001Is the crisis problem growing more severe?1,324 cited
  • 2005Asset Prices, Financial and Monetary Stability: Exploring the Nexus1,287 cited
  • 1961Productivity Trends in the United States1,092 cited
  • 1992Golden fetters: the gold standard and the Great Depression, 1919-1939944 cited
  • 2001Long-Term Global Market Correlations783 cited
  • 2002Asset prices, financial and monetary stability: exploring the nexus763 cited
  • 2003Measuring The Reaction of Monetary Policy to the Stock Market744 cited
  • 2002A simple framework for analysing bull and bear markets593 cited
  • 1996

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Economic Growth in Europe since 1945
517 cited

Cited by

  • 2011FISCAL POLICY AND ASSET PRICES95 cited
  • 2009Banking Crises and the Rules of the Game72 cited
  • 2015Bank Capital Regulation: Theory, Empirics, and Policy61 cited
  • 2008Inflation, Monetary Policy and Stock Market Conditions36 cited
  • 2017Monetary Policy, Inflation and Rational Asset Price Bubbles31 cited
  • 2020Expectation-driven house prices and debt defaults: The effectiveness of monetary and macroprudential policies26 cited