Serie: Documentos Ocasionales. 0507.
Autor: Jaime Caruana.
Documento completo
Resumen
This paper offers some thoughts on the relationship between asset price developments, the conduct of monetary policy and the role of financial regulation, in a low inflation environment. It also reviews some recent episodes of financial stress and the experience of asset inflation in the Spanish housing market. A number of policy lessons are drawn with special attention to the European Monetary Union.