Taylor Rule Under Financial Instability

Taylor Rule Under Financial Instability
This paper contributes to the analysis of monetary policy in the face of financial instability. In particular, we extend the standard new Keynesian dynamic stochastic general equilibrium (DSGE) model with sticky prices to include a financial system. Our simulations suggest that if financial instability affects output and inflation with a lag and... READ MORE...

Publication date: January 2008
ISBN 9781451868807
$18.00

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