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150128 ||| eng |
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|a 9781451873986
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100 |
1 |
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|a Scott, Alasdair
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245 |
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|a Monetary and Macroprudential Policy Rules in a Model with House Price Booms
|c Alasdair Scott, Pau Rabanal, Prakash Kannan
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2009
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300 |
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|a 36 pages
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653 |
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|a Inflation
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653 |
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|a Credit
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653 |
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|a Real Estate
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653 |
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|a Output gap
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653 |
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|a Monetary economics
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653 |
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|a Deflation
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653 |
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|a Housing Supply and Markets
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653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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653 |
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|a Housing; Prices
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653 |
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|a Production; Economic theory
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653 |
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|a Asset prices
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653 |
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|a Macroeconomics: Production
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653 |
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|a Property & real estate
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653 |
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|a Price Level
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653 |
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|a Prices
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653 |
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|a Macroeconomics
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653 |
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|a Money and Monetary Policy
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653 |
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|a Housing prices
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653 |
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|a Production and Operations Management
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700 |
1 |
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|a Rabanal, Pau
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700 |
1 |
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|a Kannan, Prakash
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041 |
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7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
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|a IMF Working Papers
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028 |
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|a 10.5089/9781451873986.001
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856 |
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|u https://elibrary.imf.org/view/journals/001/2009/251/001.2009.issue-251-en.xml?cid=23399-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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520 |
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|a We argue that a stronger emphasis on macrofinancial risk could provide stabilization benefits. Simulations results suggest that strong monetary reactions to accelerator mechanisms that push up credit growth and asset prices could help macroeconomic stability. In addition, using a macroprudential instrument designed specifically to dampen credit market cycles would also be useful. But invariant and rigid policy responses raise the risk of policy errors that could lower, not raise, macroeconomic stability. Hence, discretion would be required
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