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Asset Price Bubbles : A Selective Survey
Scherbina, Anna - 2013
Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature … on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard … insights for how bubbles are initiated and sustained, the reasons they burst, and why arbitrage forces do not routinely step in …
Persistent link: https://www.econbiz.de/10014395388
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Asset price bubbles : a selective survey
Scherbina, Anna - 2013
Persistent link: https://www.econbiz.de/10009726553
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Optimal macroprudential policy and asset price bubbles
Biljanovska, Nina; Górnicka, Lucyna; Vardoulakis, … - 2019
that the macroprudential policy should optimally respond to building asset price bubbles non-monotonically depending on the …
Persistent link: https://www.econbiz.de/10012103635
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Media sentiment and international asset prices
Fraiberger, Samuel P.; Lee, Do; Puy, Damien; Rancière, … - 2018
We assess the impact of media sentiment on international equity prices using more than 4.5 million Reuters articles published across the globe between 1991 and 2015. News sentiment robustly predicts daily returns in both advanced and emerging markets, even after controlling for known...
Persistent link: https://www.econbiz.de/10011978582
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Japanese Banks and the Asset Price ""Bubble""
Fries, Steven - 1993
With the recent collapse of the asset price “bubble,” Japanese banks encountered significant pressure from both a sharp decline in the value of equity holdings and a marked increase in bad loans. In August 1992, the Government initiated measures that stabilized equity prices and assisted...
Persistent link: https://www.econbiz.de/10014396132
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Financial Crises in DSGE Models : Selected Applications of MAPMOD
Benes, Jaromir - 2014
This paper, together with a technical companion paper, presents MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the...
Persistent link: https://www.econbiz.de/10014411162
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Financial Crises in DSGE Models : A Prototype Model
Benes, Jaromir - 2014
This paper presents the theoretical structure of MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the real economy....
Persistent link: https://www.econbiz.de/10014411163
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Identifying Speculative Bubbles : A Two-Pillar Surveillance Framework
Jones, Bradley - 2014
In the aftermath of the global financial crisis, the issue of how best to identify speculative asset bubbles (in real …
Persistent link: https://www.econbiz.de/10014411764
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Financial crises in DSGE models : a prototype model
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas - 2014
Persistent link: https://www.econbiz.de/10010359938
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Financial crises in DSGE models : selected applications of MAPMOD
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas - 2014
Persistent link: https://www.econbiz.de/10010359944