Coordination Effects and Optimal Policy Choices of Macroprudential Policy and Monetary Policy

Table 4

Welfare changes of the optimal combination of CRR macroprudential rules and monetary policy rules.

	Parameters and variables	Case 1	Case 2	Case 3
Taylor rules		0.8	0.8	0.8
		0.7	0.7	0.7
		0	0.3	0.3
		0	0	0.1
CRR rules		3.94	4.03	4.80
Patient households		0.0036	0.2852	−1.1689
Impatient households		−5.6603	6.3955	4.4840
Bankers		67.6732	52.9116	56.6445
Total social welfare		4.1158	3.7619	3.8944