Schenkelberg, Heike; Watzka, Sebastian - In: Journal of International Money and Finance 33 (2013) C, pp. 327-357
Using post-1995 Japanese data we propose a new sign restriction SVAR approach to identify monetary policy shocks when the economy is at the Zero Lower Bound (ZLB). The identifying restrictions are based on predictions of Eggertsson's (2010) New Keynesian DSGE models when the economy is stuck at...
