Incomplete credit markets and monetary policy

DOI10.1016/J.JEDC.2019.03.005zbMath1418.91336OpenAlexW3122023310WikidataQ128071589 ScholiaQ128071589MaRDI QIDQ2002646

Costas Azariadis, James Bullard, Jacek Suda, Aarti Singh

Publication date: 12 July 2019

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: http://econ-wpseries.com/2015/201512-02.pdf

zbMATH Keywords

monetary policyheterogeneous householdsseincomplete credit marketslife cycle economiesnominal GDP targetingnon-state contingent nominal contracts

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Credit risk (91G40)

Cites Work

• Scarce collateral, the term premium, and quantitative easing
• Optimal fiscal and monetary policy under sticky prices.
• On the desirability of nominal GDP targeting
• Private and public circulating liabilities

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