Optimal interest rate rule in a DSGE model with housing market spillovers

被引：11
|
作者：
Sun, Xiaojin [1 ]
Tsang, Kwok Ping [1 ]
机构：
[1] Virginia Tech, Dept Econ, Blacksburg, VA 24061 USA
来源：
ECONOMICS LETTERS | 2014年 / 125卷 / 01期
关键词：
Optimal interest rate rule; DSGE model; House price inflation;
D O I：
10.1016/j.econlet.2014.07.030
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper studies the optimal interest rate rule in a DSGE model with housing market spillovers (lacoviello and Neri, 2010). We find that the optimal rule responds to house price inflation even when the stabilization of house price is not among the objectives of the policymaker, and that the strength of the response depends crucially on a few structural parameters. (C) 2014 Elsevier B.V. All rights reserved.
引用
收藏
页码：47 / 51
页数：5
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