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

• Autore: Scott Alasdair
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Descrizione fisica: 39 p. : ill
• Soggetto topico: Assets (Accounting) - Prices; Macroeconomics; Monetary policy; Exports and Imports; Inflation; Money and Monetary Policy; Real Estate; Price Level; Deflation; Housing Supply and Markets; Current Account Adjustment; Short-term Capital Movements; Monetary Policy, Central Banking, and the Supply of Money and Credit: General; Property & real estate; International economics; Monetary economics; Asset prices; Housing prices; Current account balance; Credit; Prices; Housing; Balance of payments
• Soggetto geografico: Japan
• Altri autori: RabanalPau KannanPrakash
• Note generali: "November 2009".
• 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.
• Titolo autorizzato: Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
• ISBN: 1-4623-1741-3; 9786612844492; 1-4518-7399-9; 1-282-84449-0; 1-4527-5409-8
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788223403321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/252