Anmerkungen:
In: BIS Paper No. 88c
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 2016 erstellt
Beschreibung:
The Great Financial Crisis of 2008–09 led many central banks to adopt explicit financial stability objectives. This raises the question of how central banks deal with the policy trade-offs resulting from potential conflicts between price and financial stability objectives. This paper presents some results from ongoing research investigating this issue for inflation targeting central banks in the Asia-Pacific region (Kim and Mehrotra (2015), (2016a) and (2016b)). We show that macroprudential policies to safeguard financial stability have also had a significant impact on inflation, potentially creating challenges for policymakers given the frequency of episodes during which low inflation has coincided with buoyant credit growth.Full Publication: 'http://ssrn.com/abstract=2861007' Expanding the Boundaries of Monetary Policy in Asia and the Pacific