Clinton, Kevin; Garcia-Saltos, Roberto; Johnson, Marianne; … - In: Journal of the Japanese and International Economies 24 (2010) 2, pp. 140-177
We use a version of the Global Projection Model covering the United States, Euro area and Japan to assess options for dealing with the looming risk of international deflation. The zero floor to interest rates constrains monetary policy. Confidence intervals, derived from stochastic simulations,...