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Why Central Banks Should Not Burst Bubbles

Posen, Adam Simon - 2006

Central banks should not be in the business of trying to prick asset price bubbles. Bubbles generally arise out of some … bubbles and more of the third in real estate booms). Accordingly, the connection between monetary conditions and the rise of … bubbles is rather tenuous, and anything short of inducing a recession by tightening credit conditions prohibitively is …

Persistent link: https://www.econbiz.de/10014059767

Greenspan’s Legacy and Bernanke’s Attitude to the Financial Crisis

Ryan, John; Koronowski, Adam - 2009

the growth of asset price bubbles. Finally we examine the policies of the former chairman of the Fed Alan Greenspan (1987 …

Persistent link: https://www.econbiz.de/10014203722

The Social Fabric Matrix Approach to Central Bank Operations- An Application to the Federal Reserve and the Recent Financial Crisis

Fullwiler, Scott - 2015

This chapter utilizes the social fabric matrix approach (SFM-A) to provide a detailed description of the Federal Reserve's (Fed's) daily operations and the recent financial crisis. The SFM of the Fed's operations presents the primary components- major norms, institutions, technologies- relevant...

Persistent link: https://www.econbiz.de/10013037851

Financial Stability, Monetary Policy, Banking Supervision, and Central Banking

Hellwig, Martin - 2014

The paper gives an overview over issues concerning the role of financial stability in monetary policy and the relation between banking supervision and central banking. Following a brief account of developments in the European Monetary Union since its creation, the systematic treatment contains...

Persistent link: https://www.econbiz.de/10013049671

When Does the Fed Care About Stock Prices?

Kurov, Alexander - 2019

We use a predictable change in the intraday volatility of index futures to identify the effect of stock returns on monetary policy. This identification approach relies on a weaker set of assumptions than required under identification through heteroskedasticity based on lower frequency data. Our...

Persistent link: https://www.econbiz.de/10012898434

Does the Fed Control Interest Rates?

Fama, Eugene F. - 2020

My paper, “Does the Fed control interest rates?” is in the 2013 Review of Asset Pricing Studies (Volume 3, pp. 180-199). The paper finds that the Fed controls the Federal Funds (FF) rate (the overnight rate on interbank borrowing of reserves). Other short-term rates are related to FF, but...

Persistent link: https://www.econbiz.de/10012857232

Changing Patterns of Financial Intermediation and Implications for Central Bank Policy : The Malaysian Perspective

2015

The effects of the 2008 global financial crisis have confirmed the increasing interaction between global financial conditions, on the one hand, and domestic financial intermediation and the effectiveness of the central bank's monetary policy, on the other. This paper details Malaysia's...

Persistent link: https://www.econbiz.de/10013011686

The Greenspan Federal Reserve Role in the Financial Crisis

John, Ryan - 2009

The Federal Reserve System or the Fed is one of the most prestigious institutions in the world. Founded by the Federal Reserve Act in 1913, the Fed has the responsibility of setting the monetary policy of the U.S. The Fed's actions affect the money supply in the U.S. market which has a direct...

Persistent link: https://www.econbiz.de/10014210394

Money, stock prices and central banks : cross-country comparisons of cointegrated VAR models

Belke, Ansgar; Wiedmann, Marcel - 2013

In this paper, we analyze the long-run behavior and short-run dynamics of stock markets across some selected developed and emerging economies - namely the United States, the Euro Area, Japan, the United Kingdom, Australia, South Korea, Thailand and Brazil - in the Cointegrated...

Persistent link: https://www.econbiz.de/10010255144

Monetary policy, stock prices and central banks cross-country comparisons of cointegrated VAR models

Belke, Ansgar; Wiedmann, Marcel - 2013

In this paper, we analyze the long-run behavior and short-run dynamics of stock markets across some selected developed and emerging economies – namely the United States, the Euro Area, Japan, the United Kingdom, Australia, South Korea, Thailand and Brazil – in the Cointegrated...

Persistent link: https://www.econbiz.de/10009779040