The objective of this article is to collect the conclusions of the studies concerning the optimal behavior of central banks towards asset prices. At first, the analysis leads to discuss the numerous uncertainties that monetary authorities should face in case of an integration of an asset price...

The aim of this article is to determine whether Monetary Condition Indices are useful indicators for future economic activity. First, two versions of MCI are successively studied (Long-term MCIs defined with long-term weights and standard MCIs like those built by the IMF). In-sample regressions,...