Policies for Macrofinancial Stability: Options to Deal with Real Estate Booms

Business & Finance, Economics, Money & Monetary Policy, Macroeconomics
Cover of the book Policies for Macrofinancial Stability: Options to Deal with Real Estate Booms by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan, INTERNATIONAL MONETARY FUND
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan ISBN: 9781462329366
Publisher: INTERNATIONAL MONETARY FUND Publication: March 1, 2011
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
ISBN: 9781462329366
Publisher: INTERNATIONAL MONETARY FUND
Publication: March 1, 2011
Imprint: INTERNATIONAL MONETARY FUND
Language: English

The crisis has shifted the policy consensus away from the “benign neglect” view that it is better to pick up the pieces after a bust than try to prevent a real-estate boom in the first place. Yet, a call for a more preventive policy action raises more questions than it provides answers. What kind of indicators should trigger policy intervention to stop or slow down a real estate boom? Even assuming policymakers were fairly certain that intervention were warranted, what would be the policy tools at their disposal? What are their impacts? What are their negative side effects and limitations? What practical issues (including political economy considerations) would limit their use? This note will explore these questions. It will open with a summary of how real-estate boom-bust cycles may threaten financial and macroeconomic stability. It will discuss different policy options to reduce the risks associated with real estate booms, drawing upon several country experiences and the insights from an analytical model. The note will conclude with a brief discussion of guiding principles in using public policy measures to deal with real estate booms.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The crisis has shifted the policy consensus away from the “benign neglect” view that it is better to pick up the pieces after a bust than try to prevent a real-estate boom in the first place. Yet, a call for a more preventive policy action raises more questions than it provides answers. What kind of indicators should trigger policy intervention to stop or slow down a real estate boom? Even assuming policymakers were fairly certain that intervention were warranted, what would be the policy tools at their disposal? What are their impacts? What are their negative side effects and limitations? What practical issues (including political economy considerations) would limit their use? This note will explore these questions. It will open with a summary of how real-estate boom-bust cycles may threaten financial and macroeconomic stability. It will discuss different policy options to reduce the risks associated with real estate booms, drawing upon several country experiences and the insights from an analytical model. The note will conclude with a brief discussion of guiding principles in using public policy measures to deal with real estate booms.

More books from INTERNATIONAL MONETARY FUND

Cover of the book Finance & Development, June 1965 by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Finance & Development, December 2006 by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Challenges to Central Banking from Globalized Financial Systems by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Exchange Rate Regimes and the Stability of the International Monetary System by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Operational Risk Management and Business Continuity Planning for Modern State Treasuries (EPub) by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Benefits and Costs of Bank Capital by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Finance & Development, December 2000 by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Currency Convertibility in the Economic Community of West African States by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Finance & Development, December 1973 by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Limiting Central Bank Credit to the Government: Theory and Practice by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Quasi-Fiscal Operations of Public Financial Institutions by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Regional Economic Outlook: Middle East and Central Asia, October 2009 by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Modernizing China's Growth Paradigm by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Finance & Development, June 1977 by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
Cover of the book Payment Systems, Monetary Policy and the Role of the Central Bank by Giovanni Mr. Dell'Ariccia, Pau Rabanal, Christopher Crowe, Deniz Igan
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy