Asset Prices and Monetary Policy in NEw EU Member States.
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F08%3A00018307" target="_blank" >RIV/61989100:27510/08:00018307 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Asset Prices and Monetary Policy in NEw EU Member States.
Original language description
The paper deals with the relationship between monetary policy and asset prices. Besides surveying recent general discussion, it attempts to extend it to recent developments in the new EU Member States (NMS), namely the Czech Republic, Hungary, Poland andSlovakia (the EU4). After a brief description of the current macroeconomic situation in the NMS, the appropriate reaction of monetary policy to asset price bubbles is dealt with and the main pros and cons associated with this reaction are summarized. Afterwards, the risks of asset market bubbles in the EU4 countries are evaluated. Since the capital markets are still underdeveloped and the real estate price boom seems to be a natural reaction to the initial undervaluation, the risks are viewed as relatively small. The conclusion is thus that it is crucial for central banks in mature economies as well as in the NMS to conduct their monetary policies as well as their supervisory and regulatory roles in a way that does not promote the buil
Czech name
Trhy aktiv a měnová politika v nových členských zemích EU
Czech description
Kapitola se zabývá vztahem mezi vývojem cen aktiv a měnovou politikou v nových členských zemích EU. Diskutuje zejména optimální reakci centrálních bank na rozvoj bublin v cenách aktiv. Doporučuje provádět měnové politiky tak, aby vznik bublin nepodporovaly a v případě potřeby uplatnit dohledová a regulační opatření.
Classification
Type
C - Chapter in a specialist book
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GA402%2F08%2F0067" target="_blank" >GA402/08/0067: Financial Integration of the EU New Member States with Eurozone</a><br>
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2008
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Book/collection name
Central Banks - Roles, Functions and Challenges
ISBN
978-81-314-2098-0
Number of pages of the result
23
Pages from-to
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Number of pages of the book
296
Publisher name
The ICFAI University Press
Place of publication
Hyderabad
UT code for WoS chapter
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