01692cas a2200265 a 4500 AALejournalIMF006140 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451873986 1018-5941 BD-DhAAL BD-DhAAL Scott, Alasdair. Monetary and Macroprudential Policy Rules in a Model with House Price Booms / Alasdair Scott, Pau Rabanal, Prakash Kannan. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We argue that a stronger emphasis on macrofinancial risk could provide stabilization benefits. Simulations results suggest that strong monetary reactions to accelerator mechanisms that push up credit growth and asset prices could help macroeconomic stability. In addition, using a macroprudential instrument designed specifically to dampen credit market cycles would also be useful. But invariant and rigid policy responses raise the risk of policy errors that could lower, not raise, macroeconomic stability. Hence, discretion would be required. Mode of access: Internet Kannan, Prakash. Rabanal, Pau. IMF Working Papers; Working Paper ; No. 2009/251 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/251/001.2009.issue-251-en.xml IMF e-Library