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Should Central Banks Prick Asset Price Bubbles? An Analysis Based on a Financial Accelerator Model with an Agent-Based Financial Market
Vasilenko, Alexey - 2018
welfare and reduce the volatility of output and inflation, especially if asset price bubbles are caused by credit expansion …This paper studies whether and how the central bank should prick asset price bubbles, if the effect of interest rate … policy on bubbles can significantly vary across periods. For this purpose, I first construct a financial accelerator model …
Persistent link: https://www.econbiz.de/10012932004
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A Monetary Base Analysis and Control Model
Gursel, Haluk Ferden - 2019
This report is one of the first studies discussing monetary base analysis and control model, a concept even today is alive and more developed by, for example, by IMF to use its analysis. The study presents monetary base approach to control of money flows and the links between monetary base,...
Persistent link: https://www.econbiz.de/10012892419
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Analysis of monetary policy responses after financial market crises in a continuous time New Keynesian Model
Hayo, Bernd; Niehof, Britta - 2014 - This version: 24 March 2014
financial crisis. The effect of bubbles on stock and housing markets and their transmission to the domestic real economy and the …
Persistent link: https://www.econbiz.de/10010336205
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Stock prices and monetary policy : re-examining the issue in a New Keynesian model with endogenous investment
Grossi, Michele; Tamborini, Roberto - 2012
(Monetary Policy and Asset Price Volatility, 1999, and Should Central Banks Respond to Movements in Asset Prices? 2001). The … output aggressive rule. -- New Keynesian models ; monetary policy ; stock markets and bubbles …
Persistent link: https://www.econbiz.de/10009530944
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Stock prices and monetary policy : re-examining the issue in a New Keynesian model with endogenous investment
Grossi, Michele; Tamborini, Roberto - 2011
. -- New Keynesian models ; monetary policy ; stock markets and bubbles …
Persistent link: https://www.econbiz.de/10009390284
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Analysis of Monetary Policy Responses after Financial Market Crises in a Continuous Time New Keynesian Model
Hayo, Bernd - 2016
two open economies. Our focus is on how stock and housing market bubbles are transmitted to and affect the domestic real …
Persistent link: https://www.econbiz.de/10013000540
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Endogenous Growth, Monetary Shocks and Nominal Rigidities
Annicchiarico, Barbara; Pelloni, Alessandra; Rossi, Lorenza - 2010
: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …
Persistent link: https://www.econbiz.de/10010343890
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Bitcoin bubble trouble
Kreuser, Jérôme; Sornette, Didier - 2018 - Revised 18-Jun-18
(and rally) discrete jump distributions associated with positive (and negative) bubbles. The RE condition implies that the …
Persistent link: https://www.econbiz.de/10011899594
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Managing beliefs about monetary policy under discretion
Mertens, Elmar - 2009
Monetary policy is most effective when public beliefs about future policies are actively managed. This is the appeal of policy rules and commitment strategies, typically absent under discretion. But when a policymaker has some private information - as is the case in reality - belief management...
Persistent link: https://www.econbiz.de/10003882302
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Determinacy and E-stability with Interest Rate Rules at the Zero Lower Bound
Eo, Yunjong; McClung, Nigel - 2021
This paper examines the uniqueness and learnability of rational expectations equilibrium when the policy rate is occasionally pegged at the zero lower bound (ZLB). We consider a model that features recurring, transient ZLB regimes and compare various interest rate rules which respond to...
Persistent link: https://www.econbiz.de/10013231398