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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' that refers to inflation...
Persistent link: https://www.econbiz.de/10012840227
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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
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 and...
Persistent link: https://www.econbiz.de/10012479356
constraint on policy rates. We find that the long-term costs, in terms of forgone consumption, of all the macroprudential tools …
Persistent link: https://www.econbiz.de/10012251966
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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' that refers to inflation...
Persistent link: https://www.econbiz.de/10012171741
Persistent link: https://www.econbiz.de/10012220144