Optimal interest rate rule in a DSGE model with housing market spillovers

This paper studies the optimal interest rate rule in a DSGE model with housing market spillovers (Iacoviello and Neri, 2010). We find that the optimal rule responds to house price inflation even when the stabilization of house price is not among the objectives of the policymaker, and that the strength of the response depends crucially on a few structural parameters.

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Year of publication:	2014
Authors:	Sun, Xiaojin ; Tsang, Kwok Ping
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 125.2014, 1, p. 47-51
Publisher:	Elsevier
Subject:	Optimal interest rate rule \| DSGE model \| House price inflation

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Type of publication:	Article
Classification:	C68 - Computable General Equilibrium Models ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010939500