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A comment on monetary policy and rational asset price bubbles

Allen, Franklin; Barlevy, Gadi; Gale, Douglas - 2023

Galí (2014) showed that a monetary policy rule that raises interest rates in response to bubbles can paradoxically lead … to larger bubbles. This comment shows that a central bank that wants to dampen bubbles can always do so by raising … argue Galí's model contains additional equilibria in which more aggressive rules dampen bubbles. We show that for these …

Persistent link: https://www.econbiz.de/10014316806

Greenspanś Bubbles <dt.>

Fleckenstein, William A.; Sheehan, Frederick - 2008 - 1. Aufl.

Persistent link: https://www.econbiz.de/10003716466

Asset price bubbles : implications on and approaches to, monetary policy and financial stability

Vital, Olivia A.; Laquindanum, Lucia C. - In: The Philippine review of economics : a joint … 42 (2005) 1, pp. 89-109

Persistent link: https://www.econbiz.de/10003641628

Why central banks should not burst bubbles

Posen, Adam Simon - 2007

Persistent link: https://www.econbiz.de/10003766446

Monetary ease - a factor behind financial crises? : Some evidence from OECD countries

Ahrend, Rudiger (contributor) - 2008

This paper addresses the question of whether and how easy monetary policy may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly...