張永隆Teo, Wing-Leong臺灣大學:經濟學研究所許延林Hsu, Yen-LinYen-LinHsu2010-05-052018-06-282010-05-052018-06-282008U0001-3007200817082300http://ntur.lib.ntu.edu.tw//handle/246246/179380本文研究在一個新凱因斯DSGE模型下，貨幣當局是否應將房價納入貨幣法則的目標中。在一個兼具價格與工資僵固性的新凱因斯封閉經濟體下，本文探討三種利率法則(包括通貨膨脹目標、工資通膨目標與房價通膨)在穩定產出、穩定物價的表現。結果顯示房價目標較通貨膨脹目標更能穩定產出及工資通膨；此外本文亦發現房價目標與工資目標在穩定產出與穩定物價各具擅場。We investigate whether monetary authorities should react to housing prices in a New Keyneisian DSGE model. We construct a New Keynesian closed economy where both price and wage rigidities exist and evaluate the performances of different interest rate rules. The results suggest that housing price inflation targeting outperforms price inflation targeting in terms of output and wage inflation stabilization. We also find that there is a trade-off between output variability and price variability in comparing housing price inflation targeting and wage inflation targeting.Abstract (1) Introduction (2) The Model (4).1 Household Optimization (5).2 Sticky Wage (11).3 Price Setting (12).4 Aggregation and Equilibrium (15).5 Monetary Policy (16) Calibration (17) Numerical Results (19) Robustness Check (21).1 Flexible Price (21).2 Flexible Wage (22) Conclusion (23) References (29)application/pdf774841 bytesapplication/pdfen-US房價DSGE新凱因斯貨幣政策housing pricesNew Keynesianmonetary policiesthesishttp://ntur.lib.ntu.edu.tw/bitstream/246246/179380/1/ntu-97-R95323031-1.pdf