Household debt, macroprudential rules, and monetary policy
نویسندگان
چکیده
منابع مشابه
Monetary policy , debt and unem - ployment
It can scarcely have escaped the attention of those who follow monetary policy in Sweden that the members of the Executive Board have held differing opinions for some time now. Most people have probably also noted that a minority of the Executive Board members – consisting of my colleague Karolina Ekholm and myself, in case anyone was not aware of this – has advocated a more expansionary moneta...
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The staggering economic and social costs left behind by the near collapse of the global financial system in the autumn of 2008 have led to much soul searching among economists. What were the factors that contributed to the massive buildup of risks and imbalances in the financial system in the years prior to the 2007–09 financial crisis—many of which went undetected or were poorly understood at ...
متن کاملHow Does Monetary Policy Affect Household Income Distribution?
Over the last decades the research on monetary policy has largely concentrated on the impact of monetary authorities’ decisions on inflation and the fine-tuning of the macroeconomic, so that distributional effects of monetary policy which are non-trivial has been ignored. A view that has become increasingly popular since the financial crisis 2008 is that expansionary monetary policy can exacerb...
متن کاملLearning, monetary policy rules, and macroeconomic stability
Several papers have documented a regime switch in US monetary policy from ‘passive’ and destabilizing in the pre-1979 period to ‘active’ and stabilizing afterwards. These studies typically work with DSGE models with rational expectations. This paper relaxes the assumption of rational expectations and allows for learning instead. Economic agents form expectations from simple models and update th...
متن کاملWorldwide Macroeconomic Stability and Monetary Policy Rules
We study the interaction of multiple large economies in dynamic stochastic general equilibrium. Each economy has a monetary policymaker that attempts to control the economy through the use of a linear nominal interest rate feedback rule. We show how the determinacy of worldwide equilibrium depends on the joint behavior of policymakers worldwide. We also show how indeterminacy exposes all econom...
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ژورنال
عنوان ژورنال: Economic Modelling
سال: 2019
ISSN: 0264-9993
DOI: 10.1016/j.econmod.2018.09.001