Asset Prices, Financial Imbalances and Monetary Policy: Are Inflation Targets Enough?

By Charles R. Bean. 2003

228 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/73089cb95f0e973d49c4e265ae1436d8dc7a5745

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Citations in the corpus

Monetary and Prudential Policies at a Crossroads? New Challenges in the New Century (2006, background): “In inflation targeting regimes, it has been acknowledged that the policy horizon may sometimes need to extend beyond the one to two years typically used in practical policy implementation (Bean (2003)). From this perspective, the Norges Bank actually lists financial imbalances as one factor that may”
The Financial Cycle and Macroeconomics: What Have We Learnt? (2014, unknown): “Operationally, this calls for extending policy horizons beyond the roughly 2-year ones typical of inflation targeting regimes and for giving greater prominence to the balance of risks in the outlook (Borio and Lowe (2002), Bean (2003)), fully taking into account the slow build-up of vulnerabilities ”
Central Bank Transparency and the Signal Value of Prices (2006, background): “…- that in ation rises when labor markets tighten - was turned on its head during the U.S. economic expansion in the 1990s when the unemployment rate fell below its long-run average of around 6 percent and then fell below 5 percent, even as in ation fell (the gures below are taken from Bean (2003)).”
Macroprudential Policy - A Literature Review (2012, unknown): “Bean et al. (2010) study how the use of macroprudential policy tools might affect the conduct of monetary policy within a NewKeynesian DSGE model adapted from Gertler and Karadi (2009). As macroprudential tool they consider a lump-sum levy or subsidy on the banking sector, which can be used to affec”
Monetary Policy, Market Excesses and Financial Turmoil (2008, background): “See Bean (2003) on the need to look at inflation beyond the usual two-three year forecast horizon.”
Whither monetary and financial stability? the implications of evolving policy regimes (2004, unknown): “In terms of objectives, this means focusing more on preventing 87 For views broadly sympathetic with this point, see King (2002), Bean (2003), Bäckström (2002) and Gjedrem (2003).”