Do credit market imperfections justify a central bank׳s response to asset price fluctuations?
Do credit market imperfections justify a central bank׳s response to asset price fluctuations? This study addresses this question from the perspective of equilibrium determinacy. In the model we use, prices are sticky and the working capital of firms is subject to asset values because of a lack of co...
|Main Author:||Nutahara, Kengo|
|Place of publication:||
Elsevier B.V 01.12.2015
|published in:||Journal of economic dynamics & control Vol. 61; pp. 81 - 94|
|Data of publication:||December 2015|
|Online Access:||available in Bonn?|
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