that the macroprudential policy should optimally respond to building asset price bubbles non-monotonically depending on the …

financial crisis. The effect of bubbles on stock and housing markets and their transmission to the domestic real economy and the …

financial crisis. The effect of bubbles on stock and housing markets and their transmission to the domestic real economy and the …

two open economies. Our focus is on how stock and housing market bubbles are transmitted to and affect the domestic real …

asset pricing in line with rational bubbles. We show that the response of the excessive stock price component to a monetary …

price bubbles. Against this background, the paper evaluates if new advances in real-time bubble detection, as brought … the bubbles in the sample. Therefore, the paper suggests a combination approach of different bubble indicators which helps … to account for the uncertainty around start and end dates of asset price bubbles. Additionally, the paper then …

Economics with equations for quantitative easing and endogenous bubbles in a new model. By running the model under a variety of …

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 … with an agent-based financial market that can endogenously generate bubbles and account for their impact on the real sector …