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asset pricing in line with rational bubbles. We show that the response of the excessive stock price component to a monetary …
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investment, but allow for harmful bubbles. Aggressive fiscal policy can prevent bubbles. …
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In this paper we investigate the relationship between loose monetary policy, low inflation, and easy bank credit with asset price booms. Using a panel of up to 18 OECD countries from 1920 to 2011 we estimate the impact that loose monetary policy, low inflation, and bank credit has on house,...
Persistent link: https://www.econbiz.de/10013073939
Persistent link: https://www.econbiz.de/10012609244
In this paper we investigate the relationship between loose monetary policy, low inflation, and easy bank credit with asset price booms. Using a panel of up to 18 OECD countries from 1920 to 2011 we estimate the impact that loose monetary policy, low inflation, and bank credit has on house,...
Persistent link: https://www.econbiz.de/10012459076
Persistent link: https://www.econbiz.de/10012436973