The recent financial crisis has triggered a major rethink of analytical approaches and policy
toward financial stability. The crisis has encouraged a sharper focus on systemic risk, the …

We construct and explore a new quarterly dataset covering crisis episodes in 40 developed
countries over 1970–2010. First, we present stylized facts on banking, debt, and currency …

The question whether central banks should bear responsibility for financial stability remains
unanswered. In connection with the use of interest rates, it is therefore not clear whether and …

We construct and explore a new quarterly dataset covering crisis episodes in 40 developed
countries over 1970–2010. First, we examine stylized facts of banking, debt, and currency …

What caused the housing boom of the 2000s? A number of researchers have suggested that
loose monetary policy during the first half of the 2000s was a primary cause of the …

Abstract The Working Papers should not be reported as representing the views of the Banco
Central do Brasil. The views expressed in the papers are those of the author (s) and do not …

Several central banks have leaned against the wind in the housing market by increasing the
policy rate preemptively to prevent a bubble. Yet the empirical literature provides mixed …

Lars EO Svensson author's note: I thank Claes Berg, Hans Dellmo, Hans Dillén, Anil
Kashyap, and Bengt Pettersson for helpful discussions and comments. Carl Andreas …

We investigate the effect of monetary policy on stock market bubbles and trading behavior in
experimental asset markets. We introduce the possibility of investing in interest bearing …

In the summer of 2010, the Federal Reserve's and the Swedish Riksbank's inflation forecasts
were below the former's mandate-consistent rate and the latter's target, respectively, and …