Asada, Tōichirō; Chiarella, Carl; Flaschel, Peter; … - 2010
the US subprime housing sector was only prevented by extraordinary monetary and fiscal policy measures implemented at the … macroeconomies. Besides other stabilizing policies we in particular propose a countercyclical monetary policy that sells assets in … interconnectedness of all three markets. Furthermore, we also study how labor market, fiscal and monetary policies can stabilize unstable …