Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/79180 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
Working Paper No. 2002-08
Verlag: 
Rutgers University, Department of Economics, New Brunswick, NJ
Zusammenfassung: 
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.
Schlagwörter: 
Stock Market
JEL: 
E54
Dokumentart: 
Working Paper

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