Dichotomy between macroprudential policy and monetary policy on credit and inflation |
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| Authors: | Hyunduk Suh |
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| Institution: | Korea Capital Market Institute, 143 Uisadang-daero, Yeongdeungpo-gu, Seoul 150-974, South Korea |
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| Abstract: | This paper compares macroprudential policy and monetary policy using a simple New Keynesian model with credit. Macroprudential policy is effective in stabilizing credit with limited impact on inflation. Monetary policy stabilizes inflation, but is ‘too blunt’ for credit stabilization. |
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| Keywords: | E44 E52 E59 |
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