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- W2022972652 abstract "Abstract We analyse the monetary policy implications of boom–bust cycles in asset prices using a Markov-switching rational expectations model. In our simulations, when a bubble bursts, the Taylor rule fails to achieve a soft landing, contrary to the optimal policy." @default.
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- W2022972652 date "2010-05-01" @default.
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- W2022972652 title "Soft landing in a Markov-switching economy" @default.
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- W2022972652 doi "https://doi.org/10.1016/j.econlet.2010.01.015" @default.
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