Data and Code for: Leaning against the wind and crisis risk
收藏ICPSR2021-01-01 更新2026-04-16 收录
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https://www.openicpsr.org/openicpsr/project/121841/version/V1/view
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资源简介：
Can central banks defuse rising stability risks in financial booms by leaning against the wind with higher interest rates? This paper studies the state-dependent effects of monetary policy on financial crisis risk. Based on the near-universe of advanced economy financial cycles since the 19th century, we show that discretionary leaning against the wind policies during credit and asset price booms are more likely to trigger crises than prevent them.
提供机构：
Erasmus University Rotterdam; University of Bonn
创建时间：
2021-01-01
