《House Prices, Borrowing Constraints and Monetary Policy in the Business Cycle》简介
标签:房地产培训资料,房地产销售培训资料,
本站提供
House Prices, Borrowing Constraints and Monetary Policy in the Business Cycle免费下载,http://www.2xuewang.com
Idevelopandestimateamonetarybusinesscyclemodelwithnominalloansandcollateralconstraints
tiedtohousingvalues.Demandshocksmovetogetherhousingandnominalpricesandareamplified
andpropagatedovertime.Thefinancialacceleratorisnotuniform:nominaldebtdampenssupply
shocksstabilizingtheeconomyunderinterestratecontrol.Structuralestimationsupportstwokey
modelfeatures:collateraleffectsdramaticallyimprovetheresponseofaggregatedemandtohouseprices
shocks;nominaldebtimprovesthesluggishresponseofoutputtoinflationsurprises.Finallypolicy
evaluationconsiderstheroleofhousepricesanddebtindexationinaffectingmonetarypolicytrade-offs.
(JELE31E32E44E52R21)
∗......
,大小:8.36 MB