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Persistent link: https://www.econbiz.de/10003804541

Using a long-term interest rate as the monetary policy instrument

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Comment on: "Using a long-term interest rate as the monetary policy instrument

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Policy interaction, expectations and the liquidity trap

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Optimal rules for central bank interest rates subject to zero lower bound

Singh, Ajay Pratap; Nikolaou, Michael - 2014

The celebrated Taylor rule provides a simple formula that aims to capture how the central bank interest rate is adjusted as a linear function of inflation and output gap. However, the rule does not take explicitly into account the zero lower bound on the interest rate. Prior studies on interest...

Persistent link: https://www.econbiz.de/10010425057