Optimal Monetary and Prudential Policies
نویسندگان
چکیده
منابع مشابه
Optimal Macro-Prudential and Monetary Policy∗
This paper addresses two main questions. First, it examines the implications of financial frictions, embedded in a New Keynesian DSGE model with a banking sector, for the conduct of welfare-optimal monetary policy. Assuming only one monetary instrument, we analyse how financial frictions affect the gains from commitment and how different are the optimized simple rules with and without financial...
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Policy mandates for macro-prudential and monetary policies in a new Keynesian framework
In the aftermath of the nancial crisis, the role of monetary policy and macro-prudential regulation in promoting nancial stability is under discussion. The old debate concerning whether monetary policy should respond to credit and asset price bubbles was revived, whereas macro-prudential regulation is being assessed as an alternative macroeconomic tool to deal with nancial imbalances. The paper...
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ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2017
ISSN: 1945-7707,1945-7715
DOI: 10.1257/mac.20140139