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Monetary policy as bad medicine: The volatile relationship between business cycles and asset prices

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  • Philipp Bagus

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File URL: http://hdl.handle.net/10.1007/s11138-008-0042-8
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Bibliographic Info

Article provided by Springer in its journal The Review of Austrian Economics.

Volume (Year): 21 (2008)
Issue (Month): 4 (December)
Pages: 283-300

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Handle: RePEc:kap:revaec:v:21:y:2008:i:4:p:283-300

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Web page: http://www.springerlink.com/link.asp?id=100335

Related research

Keywords: Austrian business cycle theory; Asset prices; Asset price bubbles; Monetary policy; Credit expansion; Herding behavior; B53 — Austrian Economics; E32 — Business Cycles; E44 — Financial Markets and the Macroeconomy; E58 — Central Banks and their Policies;

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References

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  1. Keeler, James P, 2001. " Empirical Evidence on the Austrian Business Cycle Theory," The Review of Austrian Economics, Springer, vol. 14(4), pages 331-51, December.
  2. Scharfstein, David. & Stein, Jeremy C., 1988. "Herd behavior and investment," Working papers WP 2062-88., Massachusetts Institute of Technology (MIT), Sloan School of Management.
  3. Schnabl, Gunther & Hoffmann, Andreas, 2007. "Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets - An Overinvestment View," MPRA Paper 5201, University Library of Munich, Germany.
  4. Ben Bernanke & Mark Gertler, 2000. "Monetary Policy and Asset Price Volatility," NBER Working Papers 7559, National Bureau of Economic Research, Inc.
  5. David Gruen & Michael Plumb & Andrew Stone, 2005. "How Should Monetary Policy Respond to Asset-Price Bubbles?," International Journal of Central Banking, International Journal of Central Banking, vol. 1(3), December.
  6. Michael D. Bordo & David C. Wheelock, 2004. "Monetary policy and asset prices: a look back at past U.S. stock market booms," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 19-44.
  7. Koppl, Roger & Yeager, Leland B., 1996. "Big Players and Herding in Asset Markets: The Case of the Russian Ruble," Explorations in Economic History, Elsevier, vol. 33(3), pages 367-383, July.
  8. David Laidler, 2003. "The Price Level, Relative Prices, and Economic Stability: Aspects of the Inter-War Debate," UWO Department of Economics Working Papers 200310, University of Western Ontario, Department of Economics.
  9. Lars E. O. Svensson, 2003. "Monetary Policy and Real Stabilization," NBER Working Papers 9486, National Bureau of Economic Research, Inc.
  10. Ahmed, Ehsan & Koppl, Roger & Rosser, J. Jr. & White, Mark V., 1997. "Complex bubble persistence in closed-end country funds," Journal of Economic Behavior & Organization, Elsevier, vol. 32(1), pages 19-37, January.
  11. William Butos & Roger Koppl, 1993. "Hayekian expectations: Theory and empirical applications," Constitutional Political Economy, Springer, vol. 4(3), pages 303-329, September.
  12. Koppl, Roger & Mramor, Dusan, 2003. " Big Players in Slovenia," The Review of Austrian Economics, Springer, vol. 16(2-3), pages 253-69, September.
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Citations

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Cited by:
  1. Jimmy A. Saravia, 2013. "Merger waves and the Austrian business cycle theory," DOCUMENTOS DE TRABAJO CIEF 010929, UNIVERSIDAD EAFIT.
  2. Hoffmann, Andreas, 2009. "Fear of depression - Asymmetric monetary policy with respect to asset markets," MPRA Paper 17522, University Library of Munich, Germany.
  3. Philipp Bagus & David Howden, 2009. "The Legitimacy of Loan Maturity Mismatching: A Risky, but not Fraudulent, Undertaking," Journal of Business Ethics, Springer, vol. 90(3), pages 399-406, December.
  4. Philipp Bagus & David Howden, 2012. "Still unanswered quibbles with fractional reserve free banking," The Review of Austrian Economics, Springer, vol. 25(2), pages 159-171, June.
  5. David Howden, 2010. "Knowledge shifts and the business cycle: When boom turns to bust," The Review of Austrian Economics, Springer, vol. 23(2), pages 165-182, June.
  6. Philipp Bagus & David Howden, 2011. "Monetary equilibrium and price stickiness: Causes, consequences and remedies," The Review of Austrian Economics, Springer, vol. 24(4), pages 383-402, December.

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