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Report from a G10 contact group on micro policies and asset market turbulences
Contents
1. Introduction
2. Micro policies and turbulence in asset markets: empirical evidence
2.1 Price bubbles in the wake of financial deregulation: the interaction of policies
2.2 Deficient regulatory structures
2.2.1 Factors contributing to credit expansion
2.2.2 Capital requirements and procyclical lending
2.2.3 Examples of market restrictions
2.3 Taxes and asset prices
2.3.1 Tax asymmetries and interest deductibility
2.3.2 Transaction taxes
2.4 Inadequate transparency and disclosure policies
3. Policy discussion
References
Annex: Summary of questionnaire results
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