In this paper we show that the acceleration of inflation in the United States after 1965 reflected a shift in perceived …

contributed to financial instability during 1790-1933, and that inflation rate shocks contributed to financial instability during …

In this paper we investigate the relationship between loose monetary policy, low inflation, and easy bank credit with … that can be interpreted as loose monetary policy shocks, low inflation shocks, bank credit shocks and house price shocks …. Loose monetary policy (as well as low inflation) played some role but the residual which may be picking up other factors …