The Interaction of Asset Pricing and Economic Activity
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Lynn A. Pollnow', 'PO_EMAI': None, 'PO_PHON': None}
The pricing of capital assets and the interaction of asset prices and           real economic activity have been important subjects of macroeconomic            research over the past several decades.  The role of stock and bond             markets in determining consumption demand and investment demand has             been emphasized by Keynes and others working in the Keynsian tradition.         The new classical macroeconomics also is concerned with the interaction         of asset prices and the level of overall economic activity.  However,           the specific questions addressed and the mechanisms by which the                business cycle and asset prices are related are frequently very                 different from those in the Keynsian tradition.  The purpose of this            study is to develop a number of general equilibrium models to analyze           the effects of changing risk on asset prices, the relationship among            asset prices and aggregate savings and investment, and the effects of           monetary and fiscal policy.  The methodology employed will be based on          the new classical macroeconomic paradigm.                                                                                                                       This research is important because it will shed light on the                    interaction between asset prices and fluctuations in output and                 employment.  This in turn would provide a deeper understanding of the           business cycle how fiscal and monetary policy might be used to                  ameliorate cyclical instabilities.
{'FirstName': 'Andrew', 'LastName': 'Abel', 'PI_MID_INIT': 'B', 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'Andrew B Abel', 'EmailAddress': None, 'NSF_ID': '000229094', 'StartDate': '08/01/1988', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'National Bureau of Economic Research Inc', 'CityName': 'CAMBRIDGE', 'ZipCode': '021385359', 'PhoneNumber': '6178683900', 'StreetAddress': '1050 MASSACHUSETTS AVE', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'Massachusetts', 'StateCode': 'MA', 'CONGRESSDISTRICT': '05', 'CONGRESS_DISTRICT_ORG': 'MA05', 'ORG_UEI_NUM': 'GT28BRBA2Q49', 'ORG_LGL_BUS_NAME': 'NATIONAL BUREAU OF ECONOMIC RESEARCH INC', 'ORG_PRNT_UEI_NUM': None}
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{'Code': '1320', 'Text': 'Economics'}
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1988&All=true', 'xml': '8814208.xml'}