Similar Search Results

Robustly Optimal Monetary Policy in a New Keynesian Model with Housing

Adam, Klaus; Woodford, Michael - 2022

We analytically characterize optimal monetary policy for an augmented New Keynesian model with a housing sector. With rational private sector expectations about housing prices and inflation, optimal monetary policy can be characterized by a standard “target criterion” in terms of inflation...

Persistent link: https://www.econbiz.de/10013323284

Daily Monetary Policy Shocks and the Delayed Response of New Home Sales

Hamilton, James D. - 2009

This paper offers an explication of the hump-shaped response of real economic activity to changes in monetary policy, focusing on the particular channel operating through new home sales. I suggest that the conventional notion of a monetary policy shock as a surprise change in the fed funds rate...

Persistent link: https://www.econbiz.de/10012766286

Housing and the Monetary Transmission Mechanism

Mishkin, Frederic S. - 2015

transmission mechanism if they are to set policy instruments appropriately. In this paper, I examine what we know about the role of … housing in the monetary transmission mechanism and then explore the implications of this knowledge for the conduct of monetary … policy. I begin with a theoretical and empirical review of the main housing-related channels of the transmission mechanism …

Persistent link: https://www.econbiz.de/10012750313

Global Financial Cycles and Risk Premiums

Jordà, Òscar - 2018

This paper studies the synchronization of financial cycles across 17 advanced economies over the past 150 years. The comovement in credit, house prices, and equity prices has reached historical highs in the past three decades. The sharp increase in the comovement of global equity markets is...

Persistent link: https://www.econbiz.de/10012916914

Macroeconomic Modeling for Monetary Policy Evaluation

Galí, Jordi - 2010

significant role of expectations of future policy actions in the monetary transmission mechanism, and the importance for the …

Persistent link: https://www.econbiz.de/10012759756

Globalization and Monetary Control

Woodford, Michael - 2007

nature of the monetary transmission mechanism, and it is sometimes suggested that this could threaten the ability of national … the form of the three structural equations of a basic model of the monetary transmission mechanism: the LM equation, the …, final goods markets, and factor markets for the form of each of these parts of the monetary transmission mechanism, and find …

Persistent link: https://www.econbiz.de/10012776195

Credit Traps

Benmelech, Efraim - 2010

This paper studies the limitations of monetary policy transmission within a credit channel frame- work. We show that …, under certain circumstances, the credit channel transmission mechanism fails in that liquidity injections by the central …

Persistent link: https://www.econbiz.de/10013140991

Beyond the Balance Sheet Model of Banking : Implications for Bank Regulation and Monetary Policy

Buchak, Greg - 2018

Bank balance sheet lending is commonly viewed as the predominant form of lending. We document and study two margins of adjustment that are usually absent from this view using microdata in the $10 trillion U.S. residential mortgage market. We first document the limits of the shadow bank...

Persistent link: https://www.econbiz.de/10012909515

Pride Goes Before a Fall : Federal Reserve Policy and Asset Markets

Reinhart, Carmen M. - 2011

Considerable debate rages about whether Federal Reserve policy was too lax in the early part of the 2000s, thereby fueling the home-price bubble that was the proximate cause of the global financial crisis. We present evidence that the view that modest alterations to monetary policy have vast...

Persistent link: https://www.econbiz.de/10013129137

The Local Residential Land Use Regulatory Environment Across U.S. Housing Markets : Evidence from a New Wharton Index

Gyourko, Joseph - 2020

We report results from a new survey of local residential land use regulatory regimes for over 2,450 primarily suburban communities across the U.S. The most highly regulated markets are on the two coasts, with the San Francisco and New York City metropolitan areas being the most highly regulated...

Persistent link: https://www.econbiz.de/10012845503

1
2
3
4
5
6
7
8
9
10
Next
Last