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 …

A key variable for the conduct of monetary policy is the natural rate of interest - the real interest rate consistent … with output equaling potential and stable inflation. Economic theory implies that the natural rate of interest varies over … natural rate of interest, potential output, and the trend growth rate, and examine the empirical relationship between these …