Asset Prices, Financial and Monetary Stability: Exploring the Nexus

By C. Borio, Philip Lowe. 2002

1,736 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/f8643de31f441eaf8700b63c26413070f79e962f

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Citations in the corpus

Financial Stability and Monetary Policy: How Closely Interlinked? (2014, background): “This view vindicates the “leaning against the wind” strategy proposed by Borio and Lowe (2002), White (2006), and others.18 It acknowledges that there is a financial cycle that cannot be fully addressed by macroprudential policy and interacts with the business cycle in various potentially…”
Bank lending and commercial property cycles: some cross-country evidence (2011, background): “Recently, Borio and Lowe (2002) have shown that credit growth and property prices have predictive power over financial instability using the Kaminsky and Reinhart (1999) framework.”
Does Expansionary Monetary Policy Cause Asset Price Booms; Some Historical and Empirical Evidence (2013, positive): “Low inflation could reflect the credibility for low inflation that occurred in the 1980s and 1990s and 1920s according to Borio and Lowe (2002) and Eichengreen and Michener (2004).”
The Financial Turmoil of 2007-?: A Preliminary Assessment and Some Policy Considerations (2008, neutral): “…the form of the coexistence of unusually rapid expansion in credit and asset prices, have useful predictive content for subsequent widespread financial distress, output weakness and disinflation, over horizons of two to four years ahead, depending on the calibration [Borio and Lowe (2002, 2004)].”
Ensuring Financial Stability: Financial Structure and the Impact of Monetary Policy on Asset Prices (2008, neutral): “The left hand panel shows the annual increase in prices for single-family houses and flats in 9 Annual property price data for Italy are taken from Cannari et al. (2006). 10 In Japan, a market for old homes practically does not exist and houses are normally torn down after a few decades.”
How does fiscal policy react to wealth composition and asset prices (2012, background): “While there has been a large number of studies devoted to the analysis of the reaction of monetary policy to asset price developments (Borio and Lowe, 2002; Bordo and Jeanne, 2002), the research on the behaviour of scal policy is far less developed and somewhat lagging.”
Predicting Distress in European Banks (2014, methodology): “These indicators are often cited as key early-warning indicators for banking crises (e.g. Demirgüç-Kunt and Detragiache, 1998; 2000; Kaminsky and Reinhart, 1999; Borio and Lowe, 2002; Hahm et al., 2013).”
Identifying the interdependence between US monetary policy and the stock market (2005, positive): “Borio and Lowe (2002) provide evidence of high asset price growth together with rapid credit expansion being an important indication for the risk of future financial instability, motivating a response from the central bank that explicitly cares about financial stability.”
Asset Price Bubbles and Systemic Risk (2019, neutral): “Financial crises are often accompanied by a boom and bust cycle in asset prices (Borio and Lowe, 2002; Kindleberger and Aliber, 2005).”
Credit Cycles, Credit Risk, and Prudential Regulation (2006, background): “6See Borio and Lowe (2002), Davis and Zhu (2004), and Goodhart, Hofmann, and Segoviano (2005).”