抄録
We show that the spread-adjusted Taylor rule including a response to the credit spread is a theoretically optimal monetary policy under heterogeneous loan contracts. However, the optimal response to the credit spread is ambiguous, given the financial market structure.
| 本文言語 | English |
|---|---|
| ページ（範囲） | 26-28 |
| ページ数 | 3 |
| ジャーナル | Economics Letters |
| 巻 | 114 |
| 号 | 1 |
| DOI | |
| 出版ステータス | Published - 2012 1月 |
| 外部発表 | はい |
ASJC Scopus subject areas
- 財務
- 経済学、計量経済学