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 were persistently and significantly below...

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...

Using bank-level data from 38 countries, this paper examines how a range of stability-oriented regulatory policies for banking are related to competition outcomes. Based on policy indicators constructed at the OECD for eight areas of prudential banking regulation, the results do not support the...