The Resource Monetary and Macroprudential Policy Rules in a Model with House Price Booms

Monetary and Macroprudential Policy Rules in a Model with House Price Booms

Label
Monetary and Macroprudential Policy Rules in a Model with House Price Booms
Title
Monetary and Macroprudential Policy Rules in a Model with House Price Booms
Creator
Contributor
Language
eng
Summary
We argue that a stronger emphasis on macrofinancial risk could provide stabilization benefits. Simulations results suggest that strong monetary reactions to accelerator mechanisms that push up credit growth and asset prices could help macroeconomic stability. In addition, using a macroprudential instrument designed specifically to dampen credit market cycles would also be useful. But invariant and rigid policy responses raise the risk of policy errors that could lower, not raise, macroeconomic stability. Hence, discretion would be required
Member of
Cataloging source
EBLCP
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
Series statement
IMF Working Papers
Series volume
v. Working Paper No. 09/251
Label
Monetary and Macroprudential Policy Rules in a Model with House Price Booms
Publication
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. A Model for Analyzing House Price Booms; A. Households; A.1 Savers; A.2 Borrowers; B. Financial Intermediaries; C. Producers; C.1 Final goods producers; C.2 Intermediate goods producers; D. Closing the Model: Market Clearing Conditions; III. Policy Regimes; IV. Calibration; 1. Parameter Values; V. Simulation Results; A. The Performance of Policy Rules in Reaction to Financial Shocks; 1. Effect of a Financial Shock; 2. Parameters of Policy Rules in Reaction to Financial Shocks
  • 3. Performance of Policy Rules in Reaction to Financial ShocksB. The Performance of Policy Rules in Reaction to Productivity Shocks; 2. Effect of a Productivity Shock; 4. Parameters of Policy Rules in Reaction to Productivity Shocks; 5. Performance of Policy Rules in Reaction to Productivity Shocks; C. Policy Rules with Multiple Shocks; 3. Optimal Weight on Nominal Credit in the Macroprudential Rule; VI. Robustness of the Results; 6. Sensitivity of Parameters of Policy Rules Optimized to Financial Shocks to Changes in Key Parameters
  • 7. Sensitivity of Parameters of Policy Rules Optimized to Productivity Shocks to Changes in Key Parameters FiguresVII. Conclusions; Appendix: Linearized Conditions; References; Footnotes
Control code
ocn870244703
Dimensions
unknown
Extent
1 online resource (47 pages)
Form of item
online
Isbn
9781452766201
Media category
computer
Media MARC source
rdamedia
Media type code
c
http://library.link/vocab/recordID
.b35564908
Specific material designation
remote
System control number
  • (OCoLC)870244703
  • pebcs1452766207

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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