| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29815 |
| 来源ID | Working Paper 29815 |
| A Note on Temporary Supply Shocks with Aggregate Demand Inertia | |
| Ricardo J. Caballero; Alp Simsek | |
| 发表日期 | 2022-03-07 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We study optimal monetary policy during temporary supply contractions when aggregate demand has inertia and the central bank is concerned about future constraints on expansionary policy. In this environment, it is optimal to run the economy hot until supply recovers. However, the policy does not remain loose throughout the low-supply phase. Overall, when the initial aggregate demand is low, the goal is to frontload the rate cuts to raise demand in anticipation of the recovery of supply. If inflation also has inertia, the central bank still overheats the economy during the low-supply phase but gradually cools it down over time. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Money and Interest Rates ; Monetary Policy ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w29815 |
| 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/587489 |
| 推荐引用方式 GB/T 7714 | Ricardo J. Caballero,Alp Simsek. A Note on Temporary Supply Shocks with Aggregate Demand Inertia. 2022. |
| 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 | ||
| w29815.pdf（592KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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