Inflation, asset markets, and economic stabilization: Lessons from Asia

New England Economic Review

Volumn , Issue 5, 1998, Pages

  Browne, Lynn Elaine ^a   Hellerstein, Rebecca ^a   Little, Jane Sneddon ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 17444441167     PISSN: 00284726     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (62)

1. Archer, David J. 1997. "The New Zealand Approach to Rules and Discretion in Monetary Policy." Journal of Monetary Economics, vol. 39 (June), pp. 3-15.
2. Ball, Laurence. 1994. "What Determines the Sacrifice Ratio?" In N. Gregory Mankiw, ed., Monetary Policy: NBER Studies in Business Cycles, vol. 29, pp. 155-82. Chicago: University of Chicago Press.
3. Bank for International Settlements. 1996/1997. 67th Annual Report.
4. _. 1997 and 1998. The Maturity, Sectoral, and Nationality Distribution of International Bank Lending. January and July.
5. Bank of Japan. 1998a. "Utilization of Financial Institutions' Self-Assessment in Enhancing Credit Risk Management," Quarterly Bulletin, vol. 6, no. 1 (February), pp. 22-32.
6. _. 1998b. Monthly Report of Recent Economic and Financial Developments, June 26.
7. Berg, Sigbjorn Atle. 1993. "The Banking Crises in the Scandinavian Countries." Proceedings of the Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, pp. 441-49.
8. Bernanke, Ben S. and Mark Gertler. 1995. "Inside the Black Box: The Credit Channel of Monetary Policy Transmission." The Journal of Economic Perspectives, vol. 9, no. 4 (Fall), pp. 27-48.
9. Bernanke, Ben S. and Frederic S. Mishkin. 1997. "Inflation Targeting: A New Framework for Monetary Policy?" The Journal of Economic Perspectives, vol. 11, no. 2 (Spring), pp. 97-116.
10. Browne, Lynn Elaine. 1992. "Why New England Went the Way of Texas Rather Than California." New England Economic Review, January/February, pp. 23-41.
11. Browne, Lynn Elaine and Rebecca Hellerstein. 1997. "Are We Investing Too Little?" New England Economic Review, November/ December, pp. 29-50.
12. Bruno, Michael. 1995. "Does Inflation Really Lower Growth?" Finance & Development, September, pp. 35-38.
13. Carosso, Vincent P. 1970. Investment Banking in America: A History. Cambridge, MA: Harvard University Press.
14. Chinn, Menzie. 1998. "Before the Fall: Were East Asian Currencies Overvalued?" NBER Working Paper No. 6491, April.
15. Cline, William and Kevin Barnes. 1998. "Spreads and Risks in Emerging Markets Lending." Institute of International Finance Research Paper No. 97-1.
16. Corsetti, Giancarlo, Paolo Pesenti, and Nouriel Roubini. 1998. "What caused the Asian currency and financial crisis?" Mimeo, New York University.
17. Dornbusch, Rudiger. 1996. "Commentary: How Should Central Banks Reduce Inflation? - Conceptual Issues." In Achieving Price Stability: A Symposium Sponsored by The Federal Reserve Bank of Kansas City, pp. 93-103. Jackson Hole, Wyoming, August.
18. Fischer, Bernard and Helmut Reisen. 1993. Liberalising capital flows in developing countries: Pitfalls, prerequisites, and perspectives. Paris: Development Studies Centre, OECD.
19. Fischer, Stanley. 1996. "Why Are Central Banks Pursuing Long-Run Price Stability?" In Achieving Price Stability: A Symposium Sponsored by The Federal Reserve Bank of Kansas City, pp. 7-34. Jackson Hole, Wyoming, August.
20. Fisher, Irving. 1932. Booms and Depressions. New York: Adelphi.
21. _. 1933. "The Debt-Deflation Theory of Great Depressions." Econometrica, vol. 1, pp. 337-57.
22. Frankel, Jeffrey. 1993. "Sterilization of money inflows: Difficult (Calvo) or easy (Reisen)?" Working Paper No. 93-024. Center for International and Development Economics Research, University of California, Berkeley, October.
23. Friedman, Milton and Anna J. Schwartz. 1963. A Monetary History of the United States, 1867-1960. New York: National Bureau of Economic Research.
24. Fuji Research Institute Corp. 1998. "Japan's Economic Outlook." June.
25. Goodhart, Charles A.E. and José Viñals. 1994. "Strategy and Tactics of Monetary Policy: Examples from Europe and the Antipodes." In Goals, Guidelines, and Constraints Facing Monetary Policymakers, Jeffrey C. Fuhrer, ed., pp. 139-87. Federal Reserve Bank of Boston, Conference Series No. 38, June.
26. Government of Japan. 1998. "Consumer Price Index: January 1997." Internet document (www.stat.go.jp/158c.htm), January 30.
27. Institute of International Finance. 1998. "Capital Flows to Emerging Market Economies." April 30.
28. International Monetary Fund. 1997. World Economic Outlook. Washington, DC: IMF, May, October and December.
29. _. 1998. World Economic Outlook. Washington, DC: IMF, May.
30. Ito, Takatoshi and Tokuo Iwaisako. 1996. "Explaining Asset Bubbles in Japan." Bank of Japan Monetary and Economic Studies, vol. 14, no. 1 (July), pp. 143-93.
31. Ito, Takatoshi and Anne O. Krueger, eds. 1996. Financial Deregulation and Integration in East Asia. NBER-East Asia Seminar on Economics, Vol. 5. Chicago, IL: University of Chicago Press.
32. Jones Lang Wooton. 1998. Asia Pacific Property Digest. The Market as at April 1998. Market Analysis Series. May. Hong Kong.
33. Japan Real Estate Institute. 1998. "Urbanland Price Index." March.
34. Kähkönen, Juha. 1995. "Japan's Capital Flows" and "Movements in Asset Prices Since the Mid-1980s." In Ulrich Baumgartner and Guy Meredith, eds., Saving Behavior and the Asset Price "Bubble" in Japan, pp. 16-35 and 51-62. IMF Occasional Paper No. 124, April.
35. Kindleberger, Charles P. 1978. Manias, Panics, and Crashes, A History of Financial Crises. New York: Basic Books.
36. Kregel, J.A. "East Asia Is Not Mexico: The Difference between Balance of Payments Crises and Debt Deflations." Jerome Levy Economics Institute, Working Paper No. 235.
37. Krugman, Paul. 1994. "The Myth of Asia's Miracle." Foreign Affairs, November/December, pp. 62-78.
38. _. 1998. "What happened to Asia?" Mimeo, MIT.
39. Little, Jane. 1997. "Anatomy of a Currency Crisis." Federal Reserve Bank of Boston Regional Review, Fall, pp. 8-13.
40. Lucas, Robert. 1981. "Econometric Policy Evaluation; A Critique." Studies in Business Cycle Theory, pp. 66-89.
41. McKinnon, Ronald I. 1993. The order of economic liberalization: Financial control in the transition to a market economy. 2nd edition. Baltimore, MD: Johns Hopkins University Press.
42. Miranda, Kenneth. 1995. "Does Japan Save Too Much?" In Ulrich Baumgartner and Guy Meredith, eds., Saving Behavior and the Asset Price "Bubble" in Japan, pp. 4-15. IMF Occasional Paper No. 124, April.
43. Mishkin, Frederic S. and Adam S. Posen. 1997. "Inflation Targeting: Lessons from Four Countries." NBER Working Paper No. 6126, August.
44. Obstfeld, Maurice. 1994. "The logic of currency crises." Cahiers Economiques et Monetaires, vol. 43, pp. 189-213.
45. OECD Economic Outlook. Various years.
46. OECD Economic Surveys. Finland. Various years.
47. OECD Economic Surveys. Japan. Various years.
48. OECD Economic Surveys. Korea. Various years.
49. OECD Economic Surveys. Norway. Various years.
50. Park, Woo Am. 1996. "Financial Liberalization: The Korean Experience." In Takatoshi Ito and Anne O. Krueger, eds., Financial Deregulation and Integration in East Asia, pp. 247-76. NBER-East Asia Seminar on Economics, Vol. 5. Chicago, IL: University of Chicago Press.
51. Park, Yung Chul. 1996. "East Asian Liberalization, Bubbles, and the Challenges from China." Brookings Papers on Economic Activity, No. 2, pp. 357-71.
52. Peek, Joe and Eric S. Rosengren. 1997. "Collateral Damage: Effects of the Japanese Real Estate Collapse on Credit Availability and Real Activity in the United States." Federal Reserve Bank of Boston Working Paper No. 97-5, September.
53. Radelet, Steven and Jeffrey Sachs. 1998a. "The Onset of the East Asian Financial Crisis." Harvard Institute for International Development, mimeo, February.
54. _. 1998b. "The East Asian Financial Crisis: Diagnosis, Remedies, Prospects." Paper presented at the Brookings Panel, Washington, D.C., March 26-27.
55. Sachs, Jeffrey, Aaron Tornell, and Andres Velasco. 1996. "Financial Crises in Emerging Markets: The Lessons of 1995." Brookings Papers on Economic Activity, No. 1, pp. 147-217.
56. Shigemi, Yosuke. 1995. "Asset Inflation in Selected Countries." Bank of Japan Monetary and Economic Studies, vol. 13, no. 2, pp. 89-130.
57. Smets, Frank. 1997. "Financial Asset Prices and Monetary Policy: Theory and Evidence." Bank for International Settlements Working Paper No. 147, September.
58. Summers, Robert and Alan Heston. 1991. "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988." Quarterly Journal of Economics, vol. 106, no. 2 (May), pp. 327-68.
59. Suzuki, Yoshio, ed. 1987. The Japanese Financial System. New York: Oxford University Press.
60. Weinstein, David E. and Yishay Yafey. 1998. "On the Costs of a Bank-Centered Financial System: Evidence from the Changing Main Bank Relations in Japan." Journal of Finance, vol. 53, April, pp. 635-72.
61. Woo, Wing Thye and Kenjiro Hirahama. 1996. "Monetary Autonomy in the Presence of Capital Flows: And Never the Twain Shall Meet, Except in East Asia?" In Takatoshi Ito and Anne O. Krueger, eds., Financial Deregulation and Integration in East Asia, pp. 307-29. NBER-East Asia Seminar on Economics, Vol. 5. Chicago, IL: University of Chicago Press.
62. Young, Alwyn. 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience." Quarterly Journal of Economics, CX (August), pp. 641-80.