House Price Dynamics, Optimal LTV Limits and the Liquidity Trap.
This paper studies the optimal design of a macro-prudential instrument, a loan-to-value (LTV) limit, and its implications for monetary policy in a model with nominal rigidities and financial frictions. The analysis accounts for both an effective lower bound on the nominal interest rate and an upper...
| Publicado en: | Review of Economic Studies Vol. 91; no. 2; pp. 940 - 972 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Oxford University Press / USA
Mar2024
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |