Asset prices, monetary policy, and the business cycle.(Pension Reform): An article from: Finance & Development

This digital document is an article from Finance & Development, published by International Monetary Fund on June 1, 1995. The length of the article is 3167 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Unusual conditions leading up to the business cycle of 1989-93 made it difficult for policy makers in many parts of the world to recognize inflationary pressures. In the 1980s, asset prices escalated and private sector debt rapidly accumulated. Because asset-price increases were not accompanied by increases in conventional measures of inflation, central banks failed to assess inflationary pressures accurately. They implemented policies that proved to be overly expansionary and caused their economies to overheat. To reduce inflation, policy corrections were made that resulted in the collapse of asset prices and deep and prolonged recessions in several countries. Several lessons learned from this unpleasant experience are discussed.

Citation Details
Title: Asset prices, monetary policy, and the business cycle.(Pension Reform)
Author: Garry J. Schinasi
Publication:Finance & Development (Magazine/Journal)
Date: June 1, 1995
Publisher: International Monetary Fund
Volume: v32 Issue: n2 Page: p20(4)

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