Determinacy, stock market dynamics and monetary policy inertia

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Determinacy, stock market dynamics and monetary policy inertia. / Pfajfar, Damjan; Santoro, Emiliano.

I: Economics Letters, Bind 112, Nr. 1, 2011, s. 7-10.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Pfajfar, D & Santoro, E 2011, 'Determinacy, stock market dynamics and monetary policy inertia', Economics Letters, bind 112, nr. 1, s. 7-10. https://doi.org/10.1016/j.econlet.2011.02.033

APA

Pfajfar, D., & Santoro, E. (2011). Determinacy, stock market dynamics and monetary policy inertia. Economics Letters, 112(1), 7-10. https://doi.org/10.1016/j.econlet.2011.02.033

Vancouver

Pfajfar D, Santoro E. Determinacy, stock market dynamics and monetary policy inertia. Economics Letters. 2011;112(1):7-10. https://doi.org/10.1016/j.econlet.2011.02.033

Author

Pfajfar, Damjan ; Santoro, Emiliano. / Determinacy, stock market dynamics and monetary policy inertia. I: Economics Letters. 2011 ; Bind 112, Nr. 1. s. 7-10.

Bibtex

@article{15c40225bc3f4c639b339d5562b0dfc5,
title = "Determinacy, stock market dynamics and monetary policy inertia",
abstract = " We study equilibrium determinacy in a New-Keynesian model where the Central Bank responds to asset prices growth. Unlike Taylor-type rules that react to asset prices, the proposed alternative does not harm dynamic stability and in certain cases promotes determinacy by inducing interest-rate inertia.",
keywords = "Asset prices, Determinacy, Monetary policy inertia",
author = "Damjan Pfajfar and Emiliano Santoro",
note = "JEL classification: C62, E52",
year = "2011",
doi = "10.1016/j.econlet.2011.02.033",
language = "English",
volume = "112",
pages = "7--10",
journal = "Economics Letters",
issn = "0165-1765",
publisher = "Elsevier",
number = "1",

}

RIS

TY - JOUR

T1 - Determinacy, stock market dynamics and monetary policy inertia

AU - Pfajfar, Damjan

AU - Santoro, Emiliano

N1 - JEL classification: C62, E52

PY - 2011

Y1 - 2011

N2 - We study equilibrium determinacy in a New-Keynesian model where the Central Bank responds to asset prices growth. Unlike Taylor-type rules that react to asset prices, the proposed alternative does not harm dynamic stability and in certain cases promotes determinacy by inducing interest-rate inertia.

AB - We study equilibrium determinacy in a New-Keynesian model where the Central Bank responds to asset prices growth. Unlike Taylor-type rules that react to asset prices, the proposed alternative does not harm dynamic stability and in certain cases promotes determinacy by inducing interest-rate inertia.

KW - Asset prices

KW - Determinacy

KW - Monetary policy inertia

U2 - 10.1016/j.econlet.2011.02.033

DO - 10.1016/j.econlet.2011.02.033

M3 - Journal article

VL - 112

SP - 7

EP - 10

JO - Economics Letters

JF - Economics Letters

SN - 0165-1765

IS - 1

ER -

ID: 33780789