概要
日時：2012年10月4日(木) 16:30-18:00
場所：3号 館1階116室
講演者：奴田原健悟氏(専修大学)
タイトル：What asset prices should be targeted by a central bank?
【Abstract】
This paper investigates the role of monetary policy when responding to asset price fluctuations with respect to equilibrium determinacy. We show that the type of asset is important. In our model, monetary policy responding to the price of a productive tangible asset (capital price) is a source of equilibrium determinacy, while that responding to the price of an intangible asset that reflects a firm’s profit (share prices) is a source of equilibrium indeterminacy.