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Expectations-driven liquidity traps : implications for monetary and fiscal policy

Nakata, Taisuke; Schmidt, Sebastian - 2019

can give rise to persistent liquidity trap episodes. Unlike in the case of fundamental-driven liquidity traps, there is no …-driven liquidity traps. Raising the in ation target or appointing an in ation-conservative central banker improves in ation outcomes … sufficiently less concerned with government spending stabilization than society can eliminate expectations-driven liquidity traps …

Persistent link: https://www.econbiz.de/10012037377

Conservatism and liquidity traps

Nakata, Taisuke; Schmidt, Sebastian - 2015

Persistent link: https://www.econbiz.de/10011288633

Speed limit policy and liquidity traps

Nakata, Taisuke; Schmidt, Sebastian; Yoo, Paul - 2018

The zero lower bound (ZLB) constraint on interest rates makes speed limit policies (SLPs) - policies aimed at stabilizing output growth - less effective. Away from the ZLB, the history dependence induced by a concern for output growth stabilization improves the inflation-output tradeoff for a...

Persistent link: https://www.econbiz.de/10011921493

The risk-adjusted monetary policy rule

Nakata, Taisuke; Schmidt, Sebastian - 2016

Persistent link: https://www.econbiz.de/10011619983

Average inflation targeting and the interest rate lower bound

Budianto, Flora; Nakata, Taisuke; Schmidt, Sebastian - 2020

Assigning a discretionary central bank a mandate to stabilize an average in ation rate| rather than a period-by-period in ation rate|increases welfare in a New Keynesian model with an occasionally binding lower bound on nominal interest rates. Under rational expecta- tions, the...

Persistent link: https://www.econbiz.de/10012206238