Monetary policy and the housing bubble: a speech at the Annual Meeting of the American Economic Association, Atlanta, Georgia, January 3, 2010

By Ben S. Bernanke. 2010

248 citations recorded by the source corpus.

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Citations in the corpus

Monetary Policy Strategy: Lessons from the Crisis (2011, unknown): “…that overly easy monetary policy might promote financial instability Using aggregate data, Taylor (2009) has argued that excessively low policy rates led to the housing bubble, while Bernanke (2010), Bean, Paustian, Penalver and Taylor (2010), Turner (2010) and Posen (2009) have argued otherwise.”
Capital Flows and the Risk-Taking Channel of Monetary Policy (2015, unknown): “Borio and Zhu (2008) coined the term “risk-taking channel of monetary 1Our questions is related to the debate on whether monetary policy was “too loose” in the run-up to the crisis with respect to the Taylor Rule (Taylor (2007), Bernanke (2010)).”
Monetary Policy Rules Work and Discretion Doesn’t: A Tale of Two Eras (2012, background): “Bernanke (2010) cites research by the Federal Reserve Board staff which shows that if you put the Fed’s forecasts of inflation rather than the actual inflation rate into a Taylor rule, then there was not such a big deviation.”
Can non-interest rate policies stabilize housing markets? Evidence from a panel of 57 economies (2016, background): “As Federal Reserve Chairman Ben Bernanke (2010) put it, monetary policy is a “blunt tool” for stabilizing housing markets.2 Moreover, countries with exchange rate targets (either explicit or implicit) lack the freedom to use the interest rate as a policy tool.”
The Business Cycle, Investor Sentiment, and Costly External Finance (2012, unknown): “Bernanke (2010) argues that this vein of research is important, and that further study of the relation between financing conditions and the real economy is needed: “understanding the relationship between financial and economic stability in a macroeconomic context is a critical unfinished task for…”
Financial Literacy, Present Bias and Alternative Mortgage Products (2017, unknown): “It is widely accepted that mortgage market failure has played an important role in mortgage decisions in the subprime mortgage market in the US (Mayer et al., 2009; Bernanke, 2010; Einav et al., 2012; Gerardi et al., 2013; Ghent, 2015).”
Optimal Monetary and Prudential Policies (2017, background): “As such, our framework accords with policymakers’ consensus [expressed, for instance, in Bernanke (2010)] that standard interest-rate policy cannot serve as the first line of defense against financial instability.”
Seven faces of "the peril" (2010, background): “For a discussion, see remarks by Fed Chairman Bernanke (2010) delivered at the annual meeting of the American Economic Association.”
How Central Should the Central Bank Be (2010, background): “More recently, Chairman Bernanke seems to have backed off this position just a bit; see the closing section of Bernanke (2010).”
Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies (2015, result): “The negative correlation between house prices and the current account balance, in particular, is consistent with the evidence previously reported in other studies (Aizenman and Jinjarak, 2009, Bernanke, 2010, Ferrero, 2014).”