Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area is popular PDF and ePub book, written by Mr.Dominic Quint in 2013-10-14, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area can be Read Online from any device for your convenience.
Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area Book PDF Summary
In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential policy can play a role. We find that the introduction of a macroprudential rule would help in reducing macroeconomic volatility, improve welfare, and partially substitute for the lack of national monetary policies. Macroprudential policy would always increase the welfare of savers, but their effects on borrowers depend on the shock that hits the economy. In particular, macroprudential policy may entail welfare costs for borrowers under technology shocks, by increasing the countercyclical behavior of lending spreads.
Detail Book of Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area PDF
- Author : Mr.Dominic Quint
- Release : 14 October 2013
- Publisher : International Monetary Fund
- ISBN : 9781484333693
- Genre : Business & Economics
- Total Page : 61 pages
- Language : English
- PDF File Size : 9,7 Mb
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