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...
| 第一著者: | |
|---|---|
| その他の著者: | |
| フォーマット: | 雑誌 |
| 言語: | English |
| 出版事項: |
Washington, D.C. :
International Monetary Fund,
2006.
|
| シリーズ: | IMF Working Papers; Working Paper ;
No. 2006/200 |
| オンライン･アクセス: | Full text available on IMF |