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Should Central Banks Prick Asset Price Bubbles? An Analysis Based on a Financial Accelerator Model with an Agent-Based Financial Market
Vasilenko, Alexey - 2018
welfare and reduce the volatility of output and inflation, especially if asset price bubbles are caused by credit expansion …This paper studies whether and how the central bank should prick asset price bubbles, if the effect of interest rate … policy on bubbles can significantly vary across periods. For this purpose, I first construct a financial accelerator model …
Persistent link: https://www.econbiz.de/10012932004
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Analysis of monetary policy responses after financial market crises in a continuous time New Keynesian Model
Hayo, Bernd; Niehof, Britta - 2014 - This version: 24 March 2014
financial crisis. The effect of bubbles on stock and housing markets and their transmission to the domestic real economy and the …
Persistent link: https://www.econbiz.de/10010336205
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Analysis of Monetary Policy Responses after Financial Market Crises in a Continuous Time New Keynesian Model
Hayo, Bernd - 2016
two open economies. Our focus is on how stock and housing market bubbles are transmitted to and affect the domestic real …
Persistent link: https://www.econbiz.de/10013000540
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Bitcoin bubble trouble
Kreuser, Jérôme; Sornette, Didier - 2018 - Revised 18-Jun-18
(and rally) discrete jump distributions associated with positive (and negative) bubbles. The RE condition implies that the …
Persistent link: https://www.econbiz.de/10011899594
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Financial Cycles, Credit Bubbles and Stabilization Policies
Corrado, Luisa - 2019
This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking … policy instruments in counteracting financial bubbles. We find that an endogenous capital requirement reduces the impact of a …
Persistent link: https://www.econbiz.de/10012892165
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Financial Cycles, Credit Bubbles and Stabilization Policies
Schuler, Tobias - 2019
This paper analyzes the effects of several policy instruments for mitigating financial bubbles generated in the banking … evaluate the efficacy of several policy instruments in counteracting financial bubbles. We find that an endogenous capital …
Persistent link: https://www.econbiz.de/10012858317
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Financial cycles, credit bubbles and stabilization policies
Corrado, Luisa; Schuler, Tobias - 2018
This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking … policy instruments in counteracting financial bubbles. We find that an endogenous capital requirement reduces the impact of a …
Persistent link: https://www.econbiz.de/10011952012
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Financial cycles, credit bubbles and stabilization policies
Corrado, Luisa; Schuler, Tobias - 2019
This paper analyzes the effects of several policy instruments for mitigating financial bubbles generated in the banking … evaluate the efficacy of several policy instruments in counteracting financial bubbles. We find that an endogenous capital …
Persistent link: https://www.econbiz.de/10012132559
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Do Central Banks‘ repo Transactions and Liquidity Infusions Increase Financial Stability Risks? A Case for Circular Monetary Economics
Kouam, Henri - 2020
Central banks repo market operations and liquidity infusions occasion a structural liquidity mismatch in bank balance sheets and increase the dependence on central bank liquidity. This paper argues for what I term “Circular Monetary Economics”, an approach to monetary policy that seeks to...
Persistent link: https://www.econbiz.de/10012825201
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Can Excess Liquidity Signal an Asset Price Boom?
Bruggeman, Annick - 2010
This paper analyses the relationship between the prevailing liquidity conditions (such as measures of money, credit and interest rates) and developments in asset prices from a monetary analysis perspective. After having identified periods of sustained excess liquidity, we analyse under which...
Persistent link: https://www.econbiz.de/10013137460