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150128 ||| eng |
| 020 |
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|a 9781451875362
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| 100 |
1 |
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|a Jeanne, Olivier
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| 245 |
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0 |
|a Monetary Policy and Asset Prices
|b Does "Benign Neglect" Make Sense?
|c Olivier Jeanne, Michael Bordo
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2002
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| 300 |
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|a 27 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Business cycles
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| 653 |
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|a Price indexes
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| 653 |
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|a Inflation
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| 653 |
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|a Credit
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| 653 |
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|a Real Estate
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| 653 |
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|a Monetary economics
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| 653 |
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|a Deflation
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| 653 |
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|a Nonagricultural and Nonresidential Real Estate Markets
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Housing
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| 653 |
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|a Money
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| 653 |
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|a Asset prices
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| 653 |
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|a Property & real estate
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| 653 |
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|a Price Level
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| 653 |
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|a Economic History: Financial Markets and Institutions: General, International, or Comparative
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| 653 |
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|a Economic growth
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| 653 |
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|a Prices
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Land prices
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| 700 |
1 |
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|a Bordo, Michael
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451875362.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2002/225/001.2002.issue-225-en.xml?cid=16073-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a The link between monetary policy and asset price movements has been of perennial interest to policymakers. In this paper, we consider the potential case for preemptive monetary restrictions when asset price reversals can have serious effects on real output. First, we present some stylized facts on boom-bust dynamics in stock and property prices in developed economies. We then discuss the case for a preemptive monetary policy in the context of a stylized model. We find that the optimal policy depends on the economic conditions in a complex, nonlinear way and cannot be summarized by a simple policy rule of the type considered in the inflation-targeting literature
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