How to Reduce Toxic Waste?

Brendan Brown

Chapter 5 in Bubbles in Credit and Currency, 2008, pp 159-213 from Palgrave Macmillan

Abstract: Abstract What action, if any, should central banks or related regulatory authorities take when the temperature of major asset or credit markets swings far outside the temperate zone? This question has been a big theme in monetary economics ever since the great boom and bust of the US economy through the 1920s and 1930s, even though the distinction between asset market and credit market heating-up and how to differentiate the policy response (if any) to each has been lost from sight during most of the modern (post-1945) period (up until the credit bubble bursting of 2007–8).

Keywords: Interest Rate; Monetary Policy; Asset Price; Federal Reserve; Real Interest Rate (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-22768-2_5

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DOI: 10.1057/9780230227682_5

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