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MestradoMestrado em Economia

Central banks and asset bubbles - the United Kingdom case

Autor
Ramos, Renato Rodrigues Marques de Freitas
Data de publicação
11 May 2017
Acesso
Acesso restrito
Palavras-chave
Instituições financeiras
Policy
Séries temporais
Economia financeira
Política monetária
Banco Central
Monetary Policy
Financial stability
Estabilidade económica
Macroprudential
Resumo
PT
EN
Should monetary policy through the interest rate be used to foster financial stability? This study tries to answer the question for the United Kingdom. The results show that if monetary policy tries to reduce the probability of a financial crisis by promoting financial stability due to a lower growth of real debt the costs are higher than the benefits, thus the use of monetary policy to promote financial stability is not justified for the United Kingdom, that should be the legacy of macroprudencial policy.

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