Caggiano, Giovanni; Castelnuovo, Efrem; Damette, Olivier; … - 2018
This paper estimates a nonlinear Threshold-VAR to investigate if a Keynesian liquidity trap due to a speculative motive … with the Keynesian view on a liquidity trap, is shown to be state contingent. In particular, it emerges only when a … be ill-suited to test the hypothesis of a Keynesian liquidity trap. An investigation performed with the same data for the …