The monetary origins of the financial and economic crisis
Abstract The monetary policy, especially the American one, can be blamed for the remote role (2002-2004) it played in the creation of the speculative bubble which led to a financial crisis. It also has a part of the responsibility through its restrictive direction during the 2004-2006 period; this time, a direction shared by other central banks. Finally, it is more immediately involved through its lack of clear-sightedness and responsiveness in the first months of the recession.
|Date of creation:||11 Mar 2010|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Daria Finocchiaro & Virginia Queijo Heideken, 2013.
"Do Central Banks React to House Prices?,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 45(8), pages 1659-1683, December.
- Lawrence H. White, 2009. "Federal Reserve Policy and the Housing Bubble," Cato Journal, Cato Journal, Cato Institute, vol. 29(1), pages 115-125, Winter.
- John B. Taylor, 2009. "The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong," NBER Working Papers 14631, National Bureau of Economic Research, Inc.
- Tobias Adrian & Arturo Estrella & Hyun Song Shin, 2010. "Monetary cycles, financial cycles, and the business cycle," Staff Reports 421, Federal Reserve Bank of New York.
- Stephen G. Cecchetti, 1997. "Understanding the Great Depression: Lessons for Current Policy," NBER Working Papers 6015, National Bureau of Economic Research, Inc.
- David C. Wheelock & Mark E. Wohar, 2009. "Can the term spread predict output growth and recessions? a survey of the literature," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 419-440.
- Ahrend, Rudiger, 2008.
"Monetary Ease: A Factor behind Financial Crises? Some Evidence from OECD Countries,"
Economics Discussion Papers
2008-44, Kiel Institute for the World Economy (IfW).
- Ahrend, Rudiger, 2010. "Monetary ease: A factor behind financial crises? Some evidence from OECD countries," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 4, pages 1-30.
- Bharat Trehan, 2009. "Predicting crises, part I: Do coming crises cast their shadows before?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue sep21.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:23769. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.