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Asset Prices and the Financial Crisis of 2007-09: An Overview of Theories and Policies

机译:资产价格与2007-09年的金融危机:理论与政策概述

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The financial crisis of 2007-09 has led to a rethinking of the role of monetary and financial regulatory policy. It has also called into question the benefits of financial innovation and monetary policy that focuses solely on inflation and the output gap. This paper discusses financial instabilities in general, the recent financial crisis as well as the appropriate role of monetary and financial regulatory policy in dealing with asset bubbles. The paper concludes by evaluating appropriate policies to reduce the economic impact of future financial crises.
机译:2007-09年的金融危机导致人们对货币和金融监管政策的作用进行了重新思考。它还质疑仅专注于通货膨胀和产出缺口的金融创新和货币政策的好处。本文讨论了总体上的金融动荡,最近的金融危机以及货币和金融监管政策在应对资产泡沫中的适当作用。本文最后通过评估适当的政策来减少未来金融危机的经济影响而得出结论。

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