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

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

Publication date: November 2009
ISBN 9781451873986
$18.00

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