Overheating in credit markets: Origins, measurement, and policy responses

Discurso de Jeremy Stein. Comenta The Economist. Y Scott Sumner.

Màs de The Economist

Gavyn Davies

The Economist le responde a Scott Sumner. Y Sumner responde: What moentary policy can and cannot do

Nick Rowe comenta:

"Yes, if the central bank raises or lowers interest rates, this will affect financial markets. But I thought we had gone beyond thinking of monetary policy in terms of raising or lowering interest rates. Or buying or selling bonds in an open market operation. Or raising or lowering the money supply. Or raising or lowering the exchange rate. Those aren't monetary policies. .

.. A monetary policy is not just the central bank doing something right now. A monetary policy is some sort of rule that tells the central bank the different things it should be doing under all sorts of different circumstances in the past, present, and future."

Bill Woolsey

JW Mason

Nick Rowe: Monetary stimulus vs financial stability is a false trade-off

Mike Konckzal

The Economist