Research Discussion Paper – RDP 9709 Asset-price Bubbles and Monetary Policy
December 1997
Contents
- Introduction
- Asset Prices and Monetary Policy
- Monetary Policy and Bubbles: A Simple Model
- Financial Regulation and the Inflation Environment
- Conclusion
- References
This paper draws on an earlier paper by the same authors titled, ‘Property-price Cycles and Monetary Policy’, presented at the Central Bank Economists Meeting, Basle, from the 28 to 29 October 1997. We would like to especially thank Nargis Bharucha and Luci Ellis for their research assistance. Thanks are also due to Gordon de Brouwer, Guy Debelle, David Gruen, Ian Macfarlane and Glenn Stevens for helpful discussions and comments, and to Pam Dillon and Paula Drew for assistance in preparing this document. The views expressed are those of the authors and should not be attributed to the Reserve Bank of Australia.