Asset Market Participation, Monetary Policy Rules, and the Great Inflation /

Asset Market Participation, Monetary Policy Rules, and the Great Inflation /

This paper argues that limited asset market participation is crucial in explaining U.S. macroeconomic performance and monetary policy before the 1980s, and their changes thereafter. We develop an otherwise standard sticky-price dynamic stochastic general equilibrium model, which implies that at low...

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Bibliografiske detaljer
Hovedforfatter:	Bilbiie, Florin
Andre forfattere:	Straub, Roland
Format:	Tidsskrift
Sprog:	English
Udgivet:	Washington, D.C. : International Monetary Fund, 2006.
Serier:	IMF Working Papers; Working Paper ; No. 2006/200
Online adgang:	Full text available on IMF

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