Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2023
to the global financial crisis. Using an open economy Dynamic Stochastic General Equilibrium (DSGE) model, we demonstrate … that monetary policy can remain effective even when nominal interest rates have reached the zero lower bound. We estimate … implemented through money supply could be the most effective monetary policy regime. Additionally, our analysis suggests that a …