Scott, Alasdair; Rabanal, Pau; Kannan, Prakash - International Monetary Fund (IMF) - 2009
We find that inflation, output and the stance of monetary policy do not typically display unusual behavior ahead of … asset price busts. By contrast, credit, shares of investment in GDP, current account deficits, and asset prices typically … inflation typically under control, central banks effectively accommodated these growing imbalances, raising the risk of damaging …