| dc.contributor | 財政系 | |
| dc.creator (作者) | 朱琇妍 | |
| dc.creator (作者) | Chu, Shiou-Yen | |
| dc.date (日期) | 2013-06 | |
| dc.date.accessioned | 4-Oct-2019 16:07:16 (UTC+8) | - |
| dc.date.available | 4-Oct-2019 16:07:16 (UTC+8) | - |
| dc.date.issued (上傳時間) | 4-Oct-2019 16:07:16 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/126713 | - |
| dc.description.abstract (摘要) | This paper incorporates a collateral constraint and a banking sector into the New Keynesian dynamic stochastic general equilibrium (DSGE) model. With the presence of credit frictions and interest rate rigidity, we examine the dynamics between housing prices, housing consumption and interest rates in response to policy shocks and exchange rate shocks. Unanticipated monetary contraction and currency depreciation decrease collateral-constrained households` housing consumption in accordance with lower home prices, less availability of domestic borrowing and lower lending rates. Compared to a closed economy, policy shocks have larger spillover effects on housing consumption in an open economy since the availability of foreign borrowing magnifies the impact of declining housing prices. | |
| dc.format.extent | 480837 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | International Review of Economics and Finance, Vol.27, pp.250-260 | |
| dc.subject (關鍵詞) | Financial accelerator ; Interest rate rigidity ; Collateral constraint | |
| dc.title (題名) | Credit Frictions and Consumption Dynamics in an Open Economy | |
| dc.type (資料類型) | article | |
