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We estimate a two-country Dynamic Stochastic General Equilibrium model for the US and the euro area including relevant housing market features and examine the monetary policy implications of housing-related disturbances. In particular, we derive the optimal monetary policy cooperation consistent...
Persistent link: https://www.econbiz.de/10003825943
Persistent link: https://www.econbiz.de/10010380066
The objective of this paper is to examine the main features of optimal monetary policy cooperation within a micro-founded macroeconometric framework. First, using Bayesian techniques, we estimate a two-country dynamic stochastic general equilibrium (DSGE) model for the United States (US) and the...
Persistent link: https://www.econbiz.de/10003750046
Persistent link: https://www.econbiz.de/10011448456