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...

Full description

Saved in:
Bibliographic details
Volume: 61
Main Author: Nutahara, Kengo
Format: Journal Article
Language: English
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
ISSN: 0165-1889
1879-1743
EISSN: 1879-1743
Discipline: Economics
Subjects:
E52
E44
E32
Online Access: available in Bonn?
Database: CrossRef
Database information Databases - DBIS