The Resource Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts

Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts

Label
Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
Title
Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
Creator
Contributor
Language
eng
Summary
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
Member of
Cataloging source
EBLCP
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
Series statement
IMF Working Papers
Series volume
v. Working Paper No. 09/252
Label
Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
Publication
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Asset Price Busts in the Modern Era; A. Defining Asset Price Busts; 1. House Price and Stock Price Busts from 1970 to 2008; 1. Asset Price Busts; B. Patterns in macroeconomic Variables in the Run-Up to a Bust; 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
  • 10. Recent House Price Booms and Household Balance SheetsA. The Role of Monetary Policy; 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; V. Conclusion; Data Appendix; References; Footnotes
  • III. How Good are These Variables as Indicators of Asset Price Busts?2. Classification of Observations Based on variable Thresholds; 3. Percentiles Used as Thresholds for Alarms; 5. The Probability of an Asset Price Bust; 6. The Failure of the Indicators to Predict an Asset Price Bust; 4. Marginal Probabilities Based on Probit Regressions; IV. Macroeconomic Patterns Ahead of the Current Crisis; 7. Recent Developments in House and Stock Prices; 8. Warning Signs for Recent House Price Busts; 9. Macroeconomic Patterns Underlying Recent House Price Booms
Control code
ocn870244664
Dimensions
unknown
Extent
1 online resource (52 pages)
Form of item
online
Isbn
9781452754093
Media category
computer
Media MARC source
rdamedia
Media type code
c
http://library.link/vocab/recordID
.b35556109
Specific material designation
remote
System control number
  • (OCoLC)870244664
  • pebcs1452754098

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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