|
AUTHOR
Anderson, Nicola
TITLE
UK asset price volatility over the last 50 years / Nicola Anderson, Francis Breedon ; Bank of England.
PUBLISHER/YEAR
London
Bank of England 1996
PHYSICAL DESCRIPTION
49 p.
SERIES
- (Working paper series ; 51).
BIBLIOGRAPHY
Bibliogr.: P.47-49
ADDED NAME
Breedon, Francis
Bank of England
UDC NUMBER
336.74
|
| Location | Address | Count | Shelf | Status | |
|---|---|---|---|---|---|
| Bibliotēka | 01.2 | 1 | 336.74 | On a shelf | Available to order |
Annotation
The paper analyses the volatility of UK equity, bond and treasury bill returns and the sterling/dollar exchange rate since 1945. It finds that the volatility of all these assets is on a declining trend after peaking in the late '70s. It seems that greater nominal and real macroeconomic stability are the most likely causes of the current declining trend. Volatility is, however, still significantly higher than in the Bretton Woods era. The authors find no evidence that asset price volatility has any consequences for real activity.