An alternate policy rule : averting asset market driven economic failures

Chidaushe, Mufaro Sibanda. (2009). An alternate policy rule : averting asset market driven economic failures Master's Thesis, School of Economics, The University of Queensland.

       
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Author Chidaushe, Mufaro Sibanda.
Thesis Title An alternate policy rule : averting asset market driven economic failures
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 2009
Thesis type Master's Thesis
Total pages 61
Language eng
Subjects 14 Economics
Formatted abstract This thesis proposes a net wealth index policy rule with a goal of averting asset market failures. Fiscal policy capital gains taxes are proposed as the net wealth index tool, operating separate to current Federal Reserve policy. In addition, the policy rule complements the Federal Reserve's inflation oriented policy by maintaining stable asset market conditions. This allows the Federal Reserve to maintain its inflationary goals, while collaborating with fiscal policy to maintain asset markets within a specific net wealth index range. Benefits of the net wealth index policy rule are set in context of a new consensus stylized Federal Reserve. Minsky's (1992) 'Financial Instability Hypothesis' is modeled to show the effects of the net wealth index and of capital gains taxes on asset markets.
Keyword Capital market -- Econometric models.

 
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Created: Thu, 30 Sep 2010, 10:00:49 EST by Muhammad Noman Ali on behalf of Social Sciences and Humanities Library Service