演講者簡介 : Professor Wing Leong Teo 為 Ph.D. in Economics，John Hopkins University (2005)。
目前為台灣大學經濟系助理教授。
其主要研究領域為國際金融及總體與貨幣理論。
演講摘要 : We argue that nominal rents for at least one form of capital, offices, are at least as rigid as the nominal prices and wages. We build a closed economy NNS model with two types of capital, offices and business capital, in order to investigate how office rent rigidity affects the design of the optimal monetary policy. Our findings suggest that an interest rate rule that reacts only to office rent inflation achieves levels of welfare that are remarkably close to the Ramsey optimal policy. We also find that when both price and wage rigidities exits, an interest rate rule that reacts only to office rent inflation outperforms interest rate rules that react to either price or wage inflation, regardless of whether the office rents are rigid.
