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Asset Price Bubbles: The Implications for Monetary, Regulatory, and International Policies

Editor

Listed:
  • William Curt Hunter
    (University of Iowa)

  • George G. Kaufman
    (Loyola University, Chicago)

  • Michael Pomerleano
    (World Bank)

Abstract

In both the industrialized and developing worlds, a distinctive feature of the last two decades has been prolonged buildups and sharp collapses in asset markets such as stock, housing, and exchange markets. The volatility has sparked intense debate in academic and policy circles over the appropriate monetary and regulatory response to dramatic market shifts. This book examines asset price bubbles to further our understanding of the causes and implications of financial instability, focusing on the potential of central banks and regulatory agencies to prevent it. The book grew out of a conference jointly sponsored by the Federal Reserve Bank of Chicago and the World Bank Group in April 2002.

Suggested Citation

  • William Curt Hunter & George G. Kaufman & Michael Pomerleano (ed.), 2005. "Asset Price Bubbles: The Implications for Monetary, Regulatory, and International Policies," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582538, April.
    • Handle: RePEc:mtp:titles:0262582538
    as

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    Citations

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    Cited by:

    1. Derviz, Alexis, 2013. "Bubbles, bank credit and macroprudential policies," Working Paper Series 1551, European Central Bank.
    2. Jean-Marie Dufour & David Tessier, 2006. "Short-Run and Long-Run Causality between Monetary Policy Variables and Stock Prices," Staff Working Papers 06-39, Bank of Canada.
    3. Bengui, Julien & Phan, Toan, 2018. "Asset pledgeability and endogenously leveraged bubbles," Journal of Economic Theory, Elsevier, vol. 177(C), pages 280-314.
    4. Hawkins, Raymond J., 2011. "Lending sociodynamics and economic instability," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 390(23), pages 4355-4369.
    5. Takaaki Ohnishi & Takayuki Mizuno & Tsutomu Watanabe, 2020. "House price dispersion in boom–bust cycles: evidence from Tokyo," The Japanese Economic Review, Springer, vol. 71(4), pages 511-539, October.
    6. Alexis Derviz, 2011. "Financial Frictions, Bubbles, and Macroprudential Policies," Working Papers 2011/04, Czech National Bank.
    7. Quinn, William, 2016. "Technological revolutions and speculative finance: Evidence from the British Bicycle Mania," QUCEH Working Paper Series 2016-06, Queen's University Belfast, Queen's University Centre for Economic History.
    8. Lean, Hooi Hooi & Teng, Kee Tuan, 2013. "Integration of world leaders and emerging powers into the Malaysian stock market: A DCC-MGARCH approach," Economic Modelling, Elsevier, vol. 32(C), pages 333-342.

    More about this item

    Keywords

    asset price bubbles; regulatory policy;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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