This volume is a collection of papers presented at a National Bureau of Economic Research (NBER) conference at the Wequassett Inn in Chatham, Massachusetts, on May 5–6, 2006. The papers explore the relationship between asset prices and monetary policy from the point of view of macroeconomic stability. Several papers ask what monetary authorities can learn. Asset prices are treated not as ultimate goals of monetary policy, nor as variables that can be directly controlled, but as indicators of macroeconomic conditions to which monetary authorities can respond. An overview of these contributions is presented.
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