Clouse, James; Henderson, Dale; Orphanides, Athanasios; … - In: Topics in Macroeconomics 3 (2003) 1, pp. 1088-1088
In an environment of low inflation, the Federal Reserve faces the possibility that it may not have provided enough monetary stimulus even though it had pushed the short-term nominal interest rate to its lower bound of zero. Assuming the nominal Treasury-bill rate had been lowered to zero, this...
