Asada, Tōichirō; Chiarella, Carl; Flaschel, Peter; … - 2010
financial markets. In this paper we focus in particular on the financial market. We use a Tobin-like macroeconomic portfolio … financial markets. Though the study of the latter has been undertaken in many partial models, we focus here on the … macroeconomies. Besides other stabilizing policies we in particular propose a countercyclical monetary policy that sells assets in …