Helicopter Drops and Liquidity Traps

Manuel Amador, Javier Bianchi

We show that if the central bank operates without commitment and faces constraints on its balance sheet, helicopter drops can be a useful stabilization tool during a liquidity trap. With commitment, even with balance sheet constraints, helicopter drops are irrelevant

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Year of publication:	March 2023
Authors:	Amador, Manuel ; Bianchi, Javier
Institutions:	National Bureau of Economic Research (issuing body)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Geldpolitik \| Monetary policy \| Liquiditätspräferenz \| Liquidity preference \| Liquidität \| Liquidity \| Theorie \| Theory

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Extent:	1 Online-Ressource illustrations (black and white)
Series:	NBER working paper series ; no. w31046
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Hardcopy version available to institutional subscribers
Other identifiers:	10.3386/w31046 [DOI]
Classification:	E31 - Price Level; Inflation; Deflation ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014247967