Narrow search
Showing 1 - 10 of 535
Cover Image
Asset Bubbles : Re-Thinking Policy for the Age of Asset Management
Jones, Bradley - 2015
bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more …
Persistent link: https://www.econbiz.de/10013026923
Cover Image
Optimal Macroprudential Policy and Asset Price Bubbles
Biljanovska, Nina - 2019
that the macroprudential policy should optimally respond to building asset price bubbles non-monotonically depending on the …
Persistent link: https://www.econbiz.de/10012862442
Cover Image
Identifying Speculative Bubbles : A Two-Pillar Surveillance Framework
Jones, Bradley - 2015
In the aftermath of the global financial crisis, the issue of how best to identify speculative asset bubbles (in real …
Persistent link: https://www.econbiz.de/10013031169
Cover Image
Macroprudential Stress Tests and Policies : Searching for Robust and Implementable Frameworks
Anderson, Ronald W. - 2018
Macroprudential stress testing (MaPST) is becoming firmly embedded in the post-crisispolicy-frameworks of financial-sectors around the world. MaPSTs can offer quantitative,forward-looking assessments of the resilience of financial systems as a whole, to particularlyadverse shocks. Therefore,...
Persistent link: https://www.econbiz.de/10012909422
Cover Image
Inefficient Fire-Sales in Decentralized Asset Markets
Ebrahimy, Ehsan - 2019
Classic models of fire-sales that emphasize liquidity-constrained natural buyers can-notfully account for the asset fire-sales during the Financial Crisis of 2008. I present a modelto demonstrate that fire-sales may happen even when there is a sizable pool of naturalbuyers and in the absence of...
Persistent link: https://www.econbiz.de/10012868464
Cover Image
Transmission of Financial Stress in Europe : The Pivotal Role of Italy and Spain, But Not Greece
González-Hermosillo, Brenda - 2014
This paper proposes a stochastic volatility model to measure sovereign financial distress. It examines howkey European sovereign credit default swap (CDS) spreads affect each other; specifically, the paperanalyses the volatility structure of Germany, Greece, Ireland, Italy, Spain and Portugal....
Persistent link: https://www.econbiz.de/10013053040
Cover Image
Asset Price Bubbles : A Selective Survey
Scherbina, Anna - 2013
Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature … on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard … insights for how bubbles are initiated and sustained, the reasons they burst, and why arbitrage forces do not routinely step in …
Persistent link: https://www.econbiz.de/10013085616
Cover Image
Fundamental and Speculative Demands for Housing
Lian, Weicheng - 2019
This paper separates the roles of demand for housing services and belief about future house prices in a house price cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality conditions of producing housing services determine...
Persistent link: https://www.econbiz.de/10012888765
Cover Image
Financial Crises in DSGE Models : Selected Applications of MAPMOD
Benes, Jaromir - 2014
This paper, together with a technical companion paper, presents MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the...
Persistent link: https://www.econbiz.de/10013054688
Cover Image
Financial Crises in DSGE Models : A Prototype Model
Benes, Jaromir - 2014
This paper presents the theoretical structure of MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the real economy....
Persistent link: https://www.econbiz.de/10013054689