Monetary policy and bubbles in a new Keynesian model with overlapping generations

Simple item page
dc.contributor.authorGalí, Jordi
dc.contributor.otherUniversitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.accessioned2024-11-14T10:10:12Z
dc.date.available2024-11-14T10:10:12Z
dc.date.issued2016-12-01
dc.date.modified2024-11-14T10:05:31Z
dc.description.abstractI analyze an extension of the New Keynesian model that features overlapping generations of Önitely-lived agents. In contrast with the standard model, the proposed framework allows for the existence of rational expectations equilibria with asset price bubbles. I examine the conditions under which bubbly equilibria may emerge and some of the implications for monetary policy. Monetary policies that lean against the bubble are shown to be potentially destabilizing, and likely to be dominated by ináation targeting policies
dc.format.mimetypeapplication/pdf*
dc.identifierhttps://econ-papers.upf.edu/ca/paper.php?id=1561
dc.identifier.citationAmerican Economic Journal: Macroeconomics, 13(2), 2021, 121-167
dc.identifier.urihttp://hdl.handle.net/10230/33900
dc.language.isoeng
dc.relation.ispartofseriesEconomics and Business Working Papers Series; 1561
dc.rightsL'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.keywordmonetary policy rules
dc.subject.keywordstabilization policies
dc.subject.keywordasset price volatility
dc.subject.keywordMacroeconomics and International Economics
dc.titleMonetary policy and bubbles in a new Keynesian model with overlapping generations
dc.title.alternative
dc.typeinfo:eu-repo/semantics/workingPaper

Files

Original bundle

Now showing 1 - 1 of 1
Thumbnail Image
Name:
1561.pdf
Size:
912.75 KB
Format:
Adobe Portable Document Format
Download

Collections

License

Rights