|
|
|
|
LEADER |
02289nmm a2200517 u 4500 |
001 |
EB000930882 |
003 |
EBX01000000000000000724478 |
005 |
00000000000000.0 |
007 |
cr||||||||||||||||||||| |
008 |
150128 ||| eng |
020 |
|
|
|a 9781451873993
|
100 |
1 |
|
|a Scott, Alasdair
|
245 |
0 |
0 |
|a Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
|c Alasdair Scott, Pau Rabanal, Prakash Kannan
|
260 |
|
|
|a Washington, D.C.
|b International Monetary Fund
|c 2009
|
300 |
|
|
|a 39 pages
|
651 |
|
4 |
|a Japan
|
653 |
|
|
|a Inflation
|
653 |
|
|
|a Credit
|
653 |
|
|
|a Real Estate
|
653 |
|
|
|a Short-term Capital Movements
|
653 |
|
|
|a Monetary economics
|
653 |
|
|
|a Deflation
|
653 |
|
|
|a Housing Supply and Markets
|
653 |
|
|
|a Current Account Adjustment
|
653 |
|
|
|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
|
653 |
|
|
|a Balance of payments
|
653 |
|
|
|a Housing
|
653 |
|
|
|a Exports and Imports
|
653 |
|
|
|a International economics
|
653 |
|
|
|a Asset prices
|
653 |
|
|
|a Property & real estate
|
653 |
|
|
|a Price Level
|
653 |
|
|
|a Current account balance
|
653 |
|
|
|a Prices
|
653 |
|
|
|a Macroeconomics
|
653 |
|
|
|a Money and Monetary Policy
|
653 |
|
|
|a Housing prices
|
700 |
1 |
|
|a Kannan, Prakash
|
700 |
1 |
|
|a Rabanal, Pau
|
041 |
0 |
7 |
|a eng
|2 ISO 639-2
|
989 |
|
|
|b IMF
|a International Monetary Fund
|
490 |
0 |
|
|a IMF Working Papers
|
028 |
5 |
0 |
|a 10.5089/9781451873993.001
|
856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2009/252/001.2009.issue-252-en.xml?cid=23398-com-dsp-marc
|x Verlag
|3 Volltext
|
082 |
0 |
|
|a 330
|
520 |
|
|
|a 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
|