房价，文档教材借用限制跟在经济周期的货币政策(1).pdfVIP

House Prices, Borrowing Constraints and Monetary Policy in the Business Cycle Matteo Iacoviello∗ Boston College December 3, 2004 Abstract I develop and estimate a monetary business cycle model with nominal loans and collateral constraints tied to housing values. Demand shocks move together housing and nominal prices, and are amplified and pro