episodes of sustained rapid rise in equity prices in the 19th and 20th Centuries, and then assess the growth of real output … of increase in market prices -- the booms of 1923-29 and 1994-2000. In general, we find that booms occurred in periods of …

in a world where prices adjust frictionlessly and there are other transactions media besides bank-created money that are …

quarter of 2010. Amidst this phenomenal response, land auction and house prices in major cities soared. We argue that the …. Residential land auction prices in eight major cities rose about 100% in 2009, controlling for quality variation. Moreover, higher …

The long-running debate about the role of monetary policy in responding to rising asset prices has received renewed … experience of a cycle in house prices and credit from 2002 to 2004, and discussing the role played by various policies during … associated with large, ongoing increases in housing prices and household borrowing …

housing prices over nearly a century. Indeed, since the mid-1990s the policy rate had a negative relationship with long … availability of domestic credit and asset prices. The evidence casts doubts on arguments that a moderately different monetary …