Asset Price Bubbles: Implications Monetary and Regulatory Policies
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BeschreibungAsset price bubbles have been and continue to be an area of major public policy concern in many countries. While we know that the bursting of such bubbles is painful and destructive to the economy, little is known of their causes. This volume examines aspects of asset price bubbles from the perspective of different times and different countries.
InhaltsverzeichnisList of Contributors. Introduction (G. Kaufman). Part I. Bubbles, crashes and failed paradigms in central banking (H. Bernard, J. Bisignano). Measuring the bubble in mature and emerging equity markets (G.G.H. Garcia). A model of financial crisis with applications to real estate bubbles and Asia (N Sarkar, R. Van Order). Comment (T.F. Cargill). Comment (G. Caprio). Part II. Should monetary policy respond to asset price bubbles? Some experimental results (A. Filardo). Are there rational bubbles in the U.S. stock market? An overview and a new test (R.Bhar, A.G. Malliaris). How good are EU deposit insurance schemes in a bubble environment? (M.J.B. Hall). Comment (E. Rosengren). Comment (H. Rosenblum). Part III. Financial liberalization, asset inflation and monetary policy in Japan (T. Cargill). Is the federal reserve stock market bubble-neutral? (M.D. Hayford, A.G.Malliaris).
PressestimmenG.G. Kaufman ...Eight papers with comments, from meetings of the Western Economic Association (San Francisco, July 2001) and the European Financial Management Association (Lugano, Switzerland, June 2001), examine aspects of asset price bubbles from the perspective of different times and different countries. Journal of Economic Literature
Untertitel: New. Sprache: Englisch.
Verlag: EMERALD GROUP PUB
Erscheinungsdatum: April 1985
Seitenanzahl: 256 Seiten