Did global imbalances cause the financial crisis? A number of influential figures have argued that inflows of foreign capital into the US due to the current account deficit helped to trigger the crisis. This paper argues that the evidence for this position is weak. The capital inflows into the...

This research considers the international evidence on the functioning and deployment of measures similar to the Irish "Rent Pressure Zone" (RPZ) framework introduced in late 2016. It also considers how these measures have worked in Ireland in the period from their inception until prior to the...

The notes in this compilation - prepared by selected monetary policy experts - analyse similarities and differences in the crisis reaction of the ECB, the FED and the BoE as well as the reasons for the different reactions (institutional set up, economic reasons etc.). In this context, the notes...