Credit, asset prices and monetary policy
Leif Brubakk and Gisle Natvik
Serie: Staff Memo
Based on the established literature, we develop a structural model for the Norwegian economy that incorporates feed-backs from asset prices and credit to the real economy. We then use this framework for policy analysis, focusing on the role of asset prices and credit under optimal simple monetary policy rules.
- Staff memo 13/2010 (PDF 627,0 Kb)