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Asset Price Bubbles and Central Bank Policies : The Crash of the 'Jackson Hole Consensus'
Malliaris, A. (Tassos) G. - 2011
This paper reexamines the main arguments of whether or not monetary policy should respond to asset bubbles. The … encourages “leaning against bubbles” and giving due consideration to alternative tools other than interest rate policy tools …
Persistent link: https://www.econbiz.de/10013119617
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Bubbles, Crises, and Heterogeneous Beliefs
Xiong, Wei - 2013
individuals, to explain bubbles, crises, and endogenous risk in financial markets …
Persistent link: https://www.econbiz.de/10013084737
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The Evolving Nature of Asset Price Bubbles, Financial Instability and Monetary Policy
Malliaris, A. (Tassos) G. - 2019
This paper links the bursting of the housing asset price bubble around 2007 in the U.S. to the instability that arose in financial markets with the bankruptcy of Lehman Brothers in September 2008, and both of these to the Great Recession and the unconventional monetary policy that followed....
Persistent link: https://www.econbiz.de/10012897514
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Quantitative Easing and Asset Bubbles in a Stock-Flow Consistent Framework
Haas, Cameron - 2018
Economics with equations for quantitative easing and endogenous bubbles in a new model. By running the model under a variety of …
Persistent link: https://www.econbiz.de/10012930464
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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
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 …
Persistent link: https://www.econbiz.de/10012932004
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Deflating Asset Price Bubbles with Leverage Constraints and Monetary Policy
Fenig, Guidon - 2018
We develop an experimental production economy to study the general equilibrium and welfare effects of speculation and stabilization policies. Participants playing the role of household-investors interact in labor, output, and, in some treatments, asset markets. Without the ability to trade...
Persistent link: https://www.econbiz.de/10012933915
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Effectiveness of bailout policies for asset bubbles in a small open economy
Motohashi, Atsushi - 2020
Persistent link: https://www.econbiz.de/10012549331
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Central bank independence and financial stability: a tale of perfect harmony?
Berger, Wolfram - 2013
Persistent link: https://www.econbiz.de/10012878606
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Asset Price Booms and Monetary Policy
Detken, Carsten; Smets, Frank - 2021
The paper aims at deriving some stylised facts for financial, real, and monetary policy developments during asset price booms. We observe various macroeconomic variables in a pre-boom, boom and post-boom phase. Not all booms lead to large output losses. We analyse the differences between...
Persistent link: https://www.econbiz.de/10013319333