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Posté le: Lun 22 Avr - 09:56 (2013) Sujet du message: what s important is how much monetary policy in each countr
our purposes, what s important is how much monetary policy in each country deviated from that prediction. The further left you go on the chart, the looser policy was from 2002 through most of 2006. By that measure, the U.S. had some of the easiest money in the fgtech galletto 2-master developed world—hence the criticism that low fascination rates stoked the housing bubble. But that s not the conclusion you d draw from this chart. As Bernanke pointed out yesterday, 11 of the 20 countries studied saw bigger housing bubbles than the U.S. while also having tighter monetary policy. The overall relationship between house prices toyota scanner and monetary policy, as expressed by that gray line, is as one would expect. The line s downward slope shows that tighter monetary policy goes with lower house-price appreciation—but the result is very slight and actually isn t statistically significant. Differences in monetary policy only explain 5% of the variability in house-price appreciation across countries. _________________ obd mileage correction auto scanner review