scholarly journals Prolonged Reserves Accumulation, Credit Booms, Asset Prices and Monetary Policy in Asia

2013 ◽  
Author(s):  
Andrew J. Filardo ◽  
Pierre L. Siklos
Keyword(s):  
Monetary Policy ◽  
Asset Prices ◽  
Credit Booms

scholarly journals Monetary policy and asset prices: to respond or not?

2006 ◽  
Vol 11 (3) ◽  
pp. 279-292 ◽  
Author(s):  
Q. Farooq Akram ◽  
Gunnar Bärdsen ◽  
Øyvind Eitrheim
Keyword(s):  
Monetary Policy ◽  
Asset Prices

An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime

2018 ◽  
Vol 78 (2) ◽  
pp. 319-357 ◽  
Author(s):  
Michael D. Bordo
Keyword(s):  
Monetary Policy ◽  
Financial Crises ◽  
Financial Stability ◽  
Historical Perspective ◽  
Asset Price ◽  
Financial Instability ◽  
Historical Evidence ◽  
Policy Regime ◽  
Extreme Form ◽  
Credit Booms

This article surveys the co-evolution of monetary policy and financial stability for a number of countries from 1880 to the present. Historical evidence on the incidence, costs, and determinants of financial crises (the most extreme form of financial instability), combined with narratives on some famous financial crises, suggests that financial crises have many causes, including credit-driven asset price booms, which have become more prevalent in recent decades, but in general financial crises are very heterogeneous and hard to categorize. Moreover, evidence shows that the association across the country sample between credit booms, asset price booms, and serious financial crises is quite weak.

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