货币政策-居民抵押贷款及住房价格概述(pdf 36页)(英文)

Objectives
• Should the Bank respond to house price growth?
• Use model with a financial accelerator in household sector to answer this question
• Answer this question in the presence of deviations from fundamentals
Outline
• Baseline Model
• Model assessment
• Deviation from fundamental experiment
• Policy rule comparison
Related Literature
• Household Financial Accelerator:
Model Overview
• 2 types of households: patient and impatient
• Financial intermediary
• House producers
• Intermediate good producers
• Final good producers
• Monetary authority

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