Castelnuovo, Efrem; Nisticò, Salvatore - Dipartimento di Scienze Economiche "Marco Fanno", … - 2010
This paper investigates the interactions between stock market fluctuations and monetary policy within a DSGE model for the U.S. economy. First, we design a framework in which fluctuations in households financial wealth are allowed - but not necessarily required - to exert an impact on current...