Showing 1 - 10 of 19
Persistent link: https://www.econbiz.de/10002406267
Persistent link: https://www.econbiz.de/10001537691
Persistent link: https://www.econbiz.de/10001472851
Persistent link: https://www.econbiz.de/10001025025
Persistent link: https://www.econbiz.de/10001025067
This paper explores several issues concerning a possible zero lower bound (ZLB) including its theoretical rationale; the magnitude of effects of low sustained inflation on real interest rates; the validity of analyzing monetary policy in models with no monetary variables; and the dynamic...
Persistent link: https://www.econbiz.de/10012471090
In a recent paper, Canzoneri, Henderson, and Rogoff have shown that it is possible for the monetary authority to peg the nominal interest rate without creating price level indeterminacy in a simplified version of the 1975 Sargent-Wallace model. The present paper begins by reviewing that result,...
Persistent link: https://www.econbiz.de/10012477801
This paper reconsiders a result obtained by Sargent and Wallace, namely, that price level indeterminacy obtains in their well-known model if the monetary authorities adopt a policy feedback rule for the interest rate rather than the money stock. Since the Federal Reserve seems often to have used...
Persistent link: https://www.econbiz.de/10012478574
Persistent link: https://www.econbiz.de/10003555190
Persistent link: https://www.econbiz.de/10009573663