Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are k

Concludes the role of asset prices in monetary policy is one of the most important, and difficult, questions confronting central banks.

A study of asset price bubbles and the implications for preventing financial instability.

In this book Tymoigne argues that financial stability should be the sole goal of central banks and suggests an alternative to the inflation targeting framework

The question of whether central banks should target stock prices so as to prevent bubbles and crashes from occurring has been hotly debated. This paper analyses