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The Monetary Policy and the Real Estate Market


  • Vasile DEDU

    (Bucharest Academy of Economic Studies)

  • Tiberiu STOICA

    (Bucharest Academy of Economic Studies)


In this paper, we intend to study the connection between monetary policy measures and the boom and bust cycles of the real estate markets in different countries. Many recent articles consider that central banks had an important contribution in triggering the global crisis and the collapse of the real estate markets during 2007-2009 due to the low monetary policy rates and the inadequate regulation and supervision of the banking system. We consider the generalization of this idea is an error, as certain central banks like the National Bank of Romania (NBR) adopted prudent policies in the pre-crisis period.

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  • Vasile DEDU & Tiberiu STOICA, 2011. "The Monetary Policy and the Real Estate Market," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(12(565)), pages 5-14, December.
  • Handle: RePEc:agr:journl:v:12(565):y:2011:i:12(565):p:5-14

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    Cited by:

    1. Steliac Nela, 2013. "Evolution Of The Romanian Residential Market After Outbreak Of The Current Economic And Financial Crisis," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 266-272, April.
    2. Zina V.MARCU căs. CIORAN, 2013. "Monetary Policy And The Inflation Targeting Strategy," SEA - Practical Application of Science, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 2, pages 167-173, October.
    3. repec:cmj:journl:y:2013:i:29:cioran is not listed on IDEAS
    4. Zina Marcu (Cioran), 2013. "Monetary Policy Under The Impact Of The Current Global Crisis," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5(4), pages 556-566, December.
    5. repec:jes:wpaper:y:2013:v:5:p:556-566 is not listed on IDEAS


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