Two Booms Since 1990


in It's Not Over

Published in print January 2013 | ISBN: 9780198088417
Published online January 2013 | e-ISBN: 9780199082292 | DOI:
Two Booms Since 1990

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Chapter 10 studies in depth the two booms i.e. of the 1990s and 2000s that preceded the current crisis. It shows that these two booms have similarities with the wealth and the debt effects described in the theoretical models respectively. While in the 1990s, it was the stock-market boom led consumption, in the 2000s, it was the housing market boom that helped counter the tendencies towards stagnation. It is interesting to note that that the business cycles follow the asset price cycles in these two markets. This chapter also tracks the government policy during these two booms and their contribution to the growth processes and eventually to the global crisis that followed.

Keywords: IT boom; real estate boom; asset prices; business cycles; monetary policy; interest rates; loan rates

Chapter.  7622 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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