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,...
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 |
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