Monetary policy for a bubbly world /

We propose a model of money, credit and bubbles, and use it to study the role of monetary policy in managing asset bubbles. In this model, bubbles pop up and burst, generating fluctuations in credit, investment and output. Two key insights emerge from the analysis. First, the growth rate of bubbles,...

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Bibliographic Details
Other Authors: Asriyan, Vladimir
Format: eBook
Language:English
Published: Cambridge, Mass. : National Bureau of Economic Research, 2016
Series:Working paper series ; 22639
Subjects:
Online Access:https://www.nber.org/papers/w22639.pdf