Fixed- and Variable-Rate Mortgages, Business Cycles, and Monetary Policy
نویسندگان
چکیده
منابع مشابه
Fixed and Variable-Rate Mortgages, Business Cycles and Monetary Policy
The aim of this paper is twofold. First, I study how the proportion of xed and variable-rate mortgages in an economy can a¤ect the way shocks are propagated. Second, I analyze optimal implementable simple monetary policy rules and the welfare implications of this proportion. I develop and solve a New Keynesian dynamic stochastic general equilibrium model that features a housing market and a gr...
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ژورنال
عنوان ژورنال: Journal of Money, Credit and Banking
سال: 2011
ISSN: 0022-2879
DOI: 10.1111/j.1538-4616.2011.00391.x