| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26796 |
| 来源ID | Working Paper 26796 |
| Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations | |
| Jordi Galí | |
| 发表日期 | 2020-03-02 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | I analyze an extension of the New Keynesian model that features overlapping generations of finitely-lived agents and (stochastic) transitions to inactivity. In contrast with the standard model, the proposed framework allows for the existence of rational expectations equilibria with asset price bubbles. I study the conditions under which bubble-driven fluctuations may emerge and the type of monetary policy rules that may prevent them. I conclude by discussing some of the model's welfare implications. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w26796 |
| 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/584469 |
| 推荐引用方式 GB/T 7714 | Jordi Galí. Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations. 2020. |
| 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 | ||
| w26796.pdf（665KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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