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240902 ||| eng |
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|a 9798400279287
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| 100 |
1 |
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|a Bounader, Lahcen
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| 245 |
0 |
0 |
|a The Diagnostic Financial Accelerator
|c Lahcen Bounader, Selim Elekdag
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2024
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| 300 |
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|a 53 pages
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| 653 |
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|a Housing Supply and Markets
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Asset prices
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| 653 |
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|a Economics
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| 653 |
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|a Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
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| 653 |
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|a Consumption
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| 653 |
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|a Financial Markets and the Macroeconomy
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| 653 |
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|a Business Fluctuations
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Housing
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| 653 |
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|a Saving
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| 653 |
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|a Inflation
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| 653 |
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|a National accounts
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| 653 |
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|a Real Estate
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| 653 |
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|a Cycles
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| 653 |
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|a Housing prices
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| 653 |
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|a Deflation
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| 653 |
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|a Business cycles
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| 653 |
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|a Macroeconomics
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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 Property & real estate
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| 653 |
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|a Economic growth
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| 653 |
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|a Wealth
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| 700 |
1 |
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|a Elekdag, Selim
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| 041 |
0 |
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 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9798400279287.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2024/132/001.2024.issue-132-en.xml?cid=550963-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a We develop a model with diagnostic expectations (DE) and a financial accelerator (FA) that generates mutually reinforcing shock amplification, especially in the case of demand shocks. However, supply shocks can be dampened via a debt deflation channel, which is strengthened amid DE. Importantly, the model results in a worsening of the inflation-output volatility trade-off confronting policymakers. In contrast to most of the literature—which argues against targeting the level of asset prices—our financial accelerator model with DE suggests that targeting house price growth may result in welfare gains
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