Optimal macroprudential policy and asset price bubbles /
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Author / Creator: | Biljanovska, Nina, author. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, [2019] ©2019 |
Description: | 1 online resource (45 pages) |
Language: | English |
Series: | IMF Working Paper ; WP/19/184 IMF working paper ; WP/19/184. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12510322 |
Table of Contents:
- Cover; Contents; 1. Introduction; 2. Literature; 3. Model Economy; 3.1. Small open economy with an asset price bubble; 4. Optimal Macroprudential Policy; 4.1. Time-consistent planner's problem; 4.2. Optimal tax rate in the presensce of a bubble; 5. Quantitative Analysis; 5.1. Calibration; 5.2. Numerical results; 6. Conclusions; References; Appendices; Figures; 1. U.S. Credit Imbalances and Asset Price Overvaluations; 2. Policy rules for borrowing and asset prices in the presence and absence of a bubble; 3. Optimal tax on borrowing in the presence of an asset price bubble
- 4. Model simulations: Responses of key variables to a binding credit constraint5. Model simulations: Social Planner's allocations; Table; 1. Calibration