- Zero Lower Bound and negative interest rates🔍
- Risk Management for Monetary Policy Near the Zero Lower Bound🔍
- Unconventional Fiscal Policy at the Zero Bound🔍
- Inequality and the Zero Lower Bound🔍
- Commentary on Policy at the Zero Lower Bound🔍
- The government spending multiplier🔍
- Circumventing the Zero Lower Bound with Monetary Policy Rules ...🔍
- Unconventional Monetary Policy🔍
Fiscal Policy at the Zero Lower Bound
Zero Lower Bound and negative interest rates: Choices for monetary ...
The Zero Lower Bound (ZLB) is a landmark in monetary policy formulation. It has significance in the context that once we reach this point, a ...
Risk Management for Monetary Policy Near the Zero Lower Bound
In many standard models uncertainty has no effect. In this paper, we demonstrate that the zero lower bound on nominal interest rates implies that the central ...
Unconventional Fiscal Policy at the Zero Bound - CiteSeerX
When the zero lower bound on nominal interest rates binds, monetary policy cannot provide ap- propriate stimulus. We show that in the standard New Keynesian ...
Inequality and the Zero Lower Bound - University of Pennsylvania
Although interest rates play a major role in shaping the stance of monetary policy, standard macroeconomic models tend to feature a long-run neutral monetary ...
Commentary on Policy at the Zero Lower Bound
Monetary policy has been thought of, at least for several decades up until the fall of 2008, as interest rate policy. Certainly New Keyne- sian policy models ...
The government spending multiplier, fiscal stress and the zero lower ...
The recent sovereign debt crisis in the Eurozone was characterized by a monetary policy, which has been constrained by the zero lower bound (ZLB) on nominal ...
Circumventing the Zero Lower Bound with Monetary Policy Rules ...
Discussions of monetary policy rules after the 2007-2009 recession highlight the potential ineffectiveness of a central bank's actions when the ...
Unconventional Monetary Policy | Explainer | Education | RBA
(See Box on 'Government bonds and the risk-free yield curve'.) In this way, asset purchases by the central bank can lower a range of interest rates other than ...
Could Fiscal Policies Overcome a Deep Recession at the Zero ...
Two main findings emerge from the analysis. First, when the monetary authority implements the zero lower bound interest rate policy to dampen ...
Global Imbalances and Policy Wars at the Zero Lower Bound
Moreover, as the global liquidity trap becomes more persistent, fiscal capacity constraints become less relevant. The upshot is that public debt issuance and ...
Fiscal and Monetary Stabilization Policy at the Zero Lower Bound
We show that fiscal transfers can be powerful in reducing the contractionary impact of a financial disturbance, and can even completely stabilize both aggregate ...
Monetary policy at the zero lower bound | CEPR
If the economy were to suffer a serious shock and recession before policy interest rates have begun to be normalised, then the ZLB may be a ...
at the Zero Lower Bound? By Renee Haltom and Pierre-Daniel G. Sarte. Several recent research efforts have found that stimulative fiscal policy—.
The Effectiveness of Unconventional Monetary Policy at the Zero ...
It finds that an exogenous increase in central bank balance sheets at the zero lower bound leads to a temporary rise in economic activity and consumer prices.
Optimal Monetary and Fiscal Policy with a Zero Bound on Nominal ...
... fiscal stabilization policy.8. However, when the zero lower bound renders nominal interest rate policy ineffective, fiscal policy is used to ...
In response to negative demand shocks at the zero lower bound (ZLB), the optimal monetary policy consists of a mix of forward guidance and mild adjustments in ...
Exchange Rate Policies at the Zero Lower Bound - Oxford Academic
The zero lower bound then implies that in any equilibrium that implements the exchange rate policy ( e t , e t + 1 ), interest rate parity will be violated.
Optimal Credit, Monetary, and Fiscal Policy under Occasional ...
Optimal Credit, Monetary, and Fiscal Policy under Occasional Financial Frictions and the Zero Lower Bound. Shifu Jiang, Hong Kong Monetary Authority. Abstract.
Fiscal Policy in a Currency Union at the Zero Lower Bound
Bound ∗. David Cook†and Michael B Devereux‡. Revised, November 2017. Abstract. When monetary policy is constrained by the zero lower bound, fiscal policy can be.
How Optimal Was U.S. Monetary Policy at the Zero Lower Bound?
In theory, the zero lower bound on nominal interest rates can generate substantial downward pressure on longer-term inflation expectations.