Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect
收藏NBER2020-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w27712
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资源简介：
We analyze optimal monetary policy and its implications for asset prices, when aggregate demand has inertia and responds to asset prices with a lag. If there is a negative output gap, the central bank optimally overshoots aggregate asset prices (asset prices are initially pushed above their steady
提供机构：
美国国家经济研究局
创建时间：
2020-08-01
