Name: Finance and Economics Discussion Series: Housing and the Monetary Transmission Mechanism (en Inglés)
Price: 23890.00 CLP
Availability: InStock
Author: Mishkin, Frederic S. ; United States Federal Reserve Board
ISBN: 9781288708604

portada Finance and Economics Discussion Series: Housing and the Monetary Transmission Mechanism (en Inglés)

Formato

Libro Físico

Autor

Frederic S. Mishkin

United States Federal Reserve Board

Editorial

Bibliogov

Idioma

Inglés

N° páginas

Encuadernación

Tapa Blanda

Dimensiones

24.6 x 18.9 x 0.3 cm

Peso

0.12 kg.

ISBN13

9781288708604

Categorías

Política y gobierno

Finance and Economics Discussion Series: Housing and the Monetary Transmission Mechanism (en Inglés)

Frederic S. Mishkin (Autor) · United States Federal Reserve Board (Autor) · Bibliogov · Tapa Blanda

Libro Nuevo

$ 23.890

$ 47.780

Ahorras: $ 23.890

50% descuento

Envío normal

Origen: Estados Unidos (Costos de importación incluídos en el precio)

Se enviará desde nuestra bodega entre el Miércoles 10 de Julio y el Miércoles 17 de Julio.

Lo recibirás en cualquier lugar de Chile entre 1 y 3 días hábiles luego del envío.

Reseña del libro "Finance and Economics Discussion Series: Housing and the Monetary Transmission Mechanism (en Inglés)"

The housing market is of central concern to monetary policy makers. To achieve the dual goals of price stability and maximum sustainable employment, monetary policy makers must understand the role that housing plays in the monetary transmission mechanism if they are to set policy instruments appropriately. In this paper, I examine what we know about the role of housing in the monetary transmission mechanism and then explore the implications of this knowledge for the conduct of monetary policy. I begin with a theoretical and empirical review of the main housing-related channels of the transmission mechanism. These channels include the ways interest rates directly influence the user cost of housing capital, expectations of future house-price movements, and housing supply; and indirectly influence the real economy through standard wealth effects from house prices, balance sheet, credit-channel effects on consumer spending, and balance sheet, credit-channel effects on housing demand. I then consider the interaction of financial stability with the monetary transmission mechanism, and discuss the ways in which the housing sector might be a source of financial instability, and whether such instability could affect the ability of a central bank to stabilize the overall macroeconomy. I conclude with a discussion of two key policy issues. First, how can monetary policy makers deal with the uncertainty with regard to housing-related monetary transmission mechanisms? And second, how can monetary policy best respond to fluctuations in asset prices, especially house prices, and to possible asset-price bubbles?