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Author Kannan, Prakash.

Title Macroeconomic patterns and monetary policy in the run-up to asset price busts / prepared by Prakash Kannan, Pau Rabanal, and Alasdair Scott
Published [Washington, D.C.] : International Monetary Fund, Research Dept., 2009
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Description 1 online resource
Series IMF working paper ; WP/09/252
IMF working paper ; WP/09/252
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 damaging busts
Notes "November 2009"
Bibliography Includes bibliographical references (pages 17-19)
Notes Online (ebrary)
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL
Description based on print version record
Subject Assets (Accounting) -- Prices.
Monetary policy.
Form Electronic book
Author Rabanal, Pau.
Scott, Alasdair.
ebrary, Inc.
International Monetary Fund. Research Department.
ISBN 9781451918137
Other Titles Ebrary Academic Complete International Subscription Collection