Optimal Macroprudential Policy and Asset Price Bubbles /

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytically and quantitatively that the macroprudential policy should optimally respond to bu...

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Detaylı Bibliyografya
Yazar: Biljanovska, Nina
Diğer Yazarlar: Gornicka, Lucyna, Vardoulakis, Alexandros
Materyal Türü: Dergi
Dil:English
Baskı/Yayın Bilgisi: Washington, D.C. : International Monetary Fund, 2019.
Seri Bilgileri:IMF Working Papers; Working Paper ; No. 2019/184
Online Erişim:Full text available on IMF

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