From early 2009 to fall 2017, the S&P 500 stock index increased by a cumulative 260%, or
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From early 2009 to fall 2017, the S&P 500 stock index increased by a cumulative 260%, or approximately 30% per year. Over the same period, one index of consumer confidence increased from 56 to just below 100 (or a cumulative increase of about 80%). Explain how this relates to the monetary transmission mechanism.
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Economics of Money Banking and Financial Markets
ISBN: 978-0134733821
12th edition
Authors: Frederic S. Mishkin
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