1.

Record Nr.

UNINA9911078305603321

Titolo

Estimates -- Indian service. Message from the President of the United States, transmitting estimates of appropriations for the Indian service. May 16, 1856. -- Referred to the Committee of Ways and Means and ordered to be printed

Pubbl/distr/stampa

Washington, DC : , : [publisher not identified], , 1856

Descrizione fisica

1 online resource (25 pages) : tables

Collana

Ex. doc. / 34th Congress, 1st session. House ; ; no. 104

[United States congressional serial set] ; ; [serial set no. 859]

Altri autori (Persone)

PierceFranklin <1804-1869.>

Soggetti

Budget

Indians of North America - Government relations

Indigenous peoples

Trusts and trustees

Indians

Legislative materials.

United States Appropriations and expenditures

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Batch processed record: Metadata reviewed, not verified. Some fields updated by batch processes.

FDLP item number not assigned.



2.

Record Nr.

UNINA9911097382103321

Autore

Scott Alasdair

Titolo

Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts / / Alasdair Scott, Pau Rabanal, Prakash Kannan

Pubbl/distr/stampa

Washington, D.C. : , : International Monetary Fund, , 2009

ISBN

9786612844492

9781462317417

1462317413

9781451873993

1451873999

9781282844490

1282844490

9781452754093

1452754098

Edizione

[1st ed.]

Descrizione fisica

39 p. : ill

Collana

IMF Working Papers

Altri autori (Persone)

KannanPrakash

RabanalPau

Disciplina

339.53091724

Soggetti

Assets (Accounting) - Prices

Macroeconomics

Monetary policy

Asset prices

Balance of payments

Credit

Current Account Adjustment

Current account balance

Deflation

Exports and Imports

Housing prices

Housing Supply and Markets

Housing

Inflation

International economics

Monetary economics

Monetary Policy, Central Banking, and the Supply of Money and Credit: General

Money and Monetary Policy

Price Level

Prices



Property & real estate

Real Estate

Short-term Capital Movements

Money

Japan

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

"November 2009".

Nota di contenuto

Intro -- Contents -- I. Introduction -- II. Asset Price Busts in the Modern Era -- A. Defining Asset Price Busts -- B. Patterns in macroeconomic Variables in the Run-Up to a Bust -- III. How Good are These Variables as Indicators of Asset Price Busts? -- IV. Macroeconomic Patterns Ahead of the Current Crisis -- A. The Role of Monetary Policy -- V. Conclusion -- References -- Data Appendix -- Tables -- 1. House Price and  Stock Price Busts from 1970 to 2008 -- 2. Classification of Observations Based on variable Thresholds -- 3. Percentiles Used as Thresholds for Alarms -- 4. Marginal Probabilities Based on Probit Regressions -- Figures -- 1. Asset Price Busts -- 2. Selected Macroeconomic Variables Before and During House Price Busts -- 3. Selected Macroeconomic Variables Before and During Stock Price Busts -- 4. Selected Macroeconomic Variables Before and During High-Cost and Other House Price Busts, 1985-2008 -- 5. The Probability of an Asset Price Bust -- 6. The Failure of the Indicators to Predict an Asset Price Bust -- 7. Recent Developments in House and Stock Prices -- 8. Warning Signs for Recent House Price Busts -- 9. Macroeconomic Patterns Underlying Recent House Price Booms -- 10. Recent House Price Booms and Household Balance Sheets -- 11. Monetary Conditions Leading up to the Current Crisis -- 12. Inflation and Output for Advnaced Economies in Recent Years -- 13. House Prices and Monetary Conditions -- 14. Stock Prices and Monetary Conditions -- 15. Growth Rate of Nominal Credit Relative to GDP and Real Policy Rates -- 16. Selected Macroeconomic Variables Before and During House Price Busts -- 17. Selected Macroeconomic Variables Before and During Stock Price Busts.

Sommario/riassunto

We find that inflation, output and the stance of monetary policy do not typically display unusual behavior ahead of asset price busts. By contrast, credit, shares of investment in GDP, current account deficits, and asset prices typically rise, providing useful, if not perfect, leading indicators of asset price busts. These patterns could also be observed in the build-up to the current crisis. Monetary policy was not the main, systematic cause of the current crisis. But, with inflation typically under control, central banks effectively accommodated these growing imbalances, raising the risk of damaging busts.