| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16402 |
| 来源ID | Working Paper 16402 |
| Monetary Policy and Stock Market Booms | |
| Lawrence Christiano; Cosmin L. Ilut; Roberto Motto; Massimo Rostagno | |
| 发表日期 | 2010-09-30 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Historical data and model simulations support the following conclusion. Inflation is low during stock market booms, so that an interest rate rule that is too narrowly focused on inflation destabilizes asset markets and the broader economy. Adjustments to the interest rate rule can remove this source of welfare-reducing instability. For example, allowing an independent role for credit growth (beyond its role in constructing the inflation forecast) would reduce the volatility of output and asset prices. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w16402 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574077 |
| 推荐引用方式 GB/T 7714 | Lawrence Christiano,Cosmin L. Ilut,Roberto Motto,et al. Monetary Policy and Stock Market Booms. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16402.pdf（521KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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