Levin, Andrew; López-Salido, David; Nelson, Edward; … - In: International Journal of Central Banking 6 (2010) 1, pp. 143-189
The recent literature on monetary policy in the presence of a zero lower bound on interest rates has shown that forward guidance regarding the path of interest rates can be very effective in preserving macroeconomic stability in the face of a contractionary demand shock; moreover, that...
