Showing 131 - 140 of 275
Persistent link: https://www.econbiz.de/10012174477
Persistent link: https://www.econbiz.de/10012661392
Persistent link: https://www.econbiz.de/10012616198
In expectations-driven liquidity traps, a higher inflation target is associated with lower inflation and consumption. As a result, introducing the possibility of expectations-driven liquidity traps to an otherwise standard model lowers the optimal inflation target. Using a calibrated New...
Persistent link: https://www.econbiz.de/10012181161
We analyze credible forward guidance policies in a sticky-price model with an effective lower bound (ELB) constraint on nominal interest rates by solving a series of optimal sustainable policy problems indexed by the duration of reputational loss. Lower-for-longer policies --- while effective in...
Persistent link: https://www.econbiz.de/10012181173
This paper studies optimal government spending and monetary policy when the nominal interest rate is subject to the zero lower bound constraint in a stochastic New Keynesian economy. I find that the government chooses to increase its spending when at the zero lower bound by a substantially...
Persistent link: https://www.econbiz.de/10013078458
Persistent link: https://www.econbiz.de/10013461405
Persistent link: https://www.econbiz.de/10014479338
Persistent link: https://www.econbiz.de/10014530632
Persistent link: https://www.econbiz.de/10014543350