Monetary Policy Experiments in an Agent-Based Macroeconomic Model

Open Access Library Journal(2021)

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Abstract
We consider an interbank market and a central bank in an agent-based macroeconomic model with credit and capital to evaluate the effects of monetary policies—conventional and quantitative easing. We find quantitative easing outperforms Taylor’s rule-style policies in smoothing out the business cycle.
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Key words
monetary policy experiments,monetary policy,macroeconomic model,agent-based
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