Monetary Policy and Asset Valuation
NBER Working Paper No. 22572
---- Acknowledgments ----
We thank Ian Dew-Becker, Emmanuel Farhi, Simon Gilchrist, Matteo Maggiori, Emi Nakamura, Monika Piazzesi, Jon Steinsson, Andrea Tamoni, Harald Uhlig, and Michael Weber for helpful comments and seminar participants at the Bundesbank, Columbia, HEC Montreal, NYU, UCL, UCLA, the University of Texas at Austin, Minneapolis Fed, Indiana University, Carey Johns Hopkins University, the National Bank of Belgium, Booth University of Chicago, the Workshop on Monetary Policy, NY Fed, April 2017; the Financial Markets and Macroeconomic Performance conference, Frankfurt, May 2017; the Developments in Empirical Monetary economics Conference, FRB May 2017; the SED June 2017; the CCBS Research Forum on Macrofinance, Bank of England June 2017, the Barcelona GSE Summer Symposium, June 2017; the Computing in Economics and Finance conference, June 2017, Wolfe Research’s Global Quantitative and Macro Investment Conference, November 2017, and the 2018 American Economic Association meetings. We thank Paulo Manoel for excellent research assistance. Any errors or omissions are the responsibility of the authors. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.