Arbeitspapier
US stock market crashes and their aftermath: Implications for monetary policy
This paper examines fifteen historical episodes of stock market crashes and their aftermath in the United States over the last one hundred years. Our basic conclusion from studying these episodes is that financial instability is the key problem facing monetary policy makers and not stock market crashes, even if they reflect the possible bursting of a bubble. With a focus on financial stability rather than the stock market, the response of central banks to stock market fluctuations is more likely to be optimal and maintain support for the independence of the central bank.
- Language
-
Englisch
- Bibliographic citation
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Series: Working Paper ; No. 2002-08
- Classification
-
Wirtschaft
- Subject
-
Stock Market
Börsenkrise
Geschichte
Geldpolitik
USA
- Event
-
Geistige Schöpfung
- (who)
-
Mishkin, Frederic S.
White, Eugene N.
- Event
-
Veröffentlichung
- (who)
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Rutgers University, Department of Economics
- (where)
-
New Brunswick, NJ
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Mishkin, Frederic S.
- White, Eugene N.
- Rutgers University, Department of Economics
Time of origin
- 2002
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