This paper focuses on simple normative rules for monetary policy that central banks can use to guide their interest … important research on how policy rules should deal with asset bubbles and the zero bound on interest rates. Going forward, the …

frameworks in the presence of a low natural rate of interest and a lower bound on interest rates. Under a standard inflation … inflation expectations by keeping interest rates "lower for longer" after periods of low inflation can both anchor expectations …

This paper analyzes the effects of the lower bound for interest rates on the distributions of expectations for future … inflation and interest rates. We study a stylized New Keynesian model where the policy instrument is subject to a lower bound to … interest rates and inflation to study whether the decrease in the natural rate of interest leads to forecast densities …

structural and time series statistical models. We find that the decline in economic activity and interest rates in the United …. Finally, we analyze the use of asset purchases as an alternative monetary policy tool when short-term interest rates are …