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Bianchi, Francesco - 2015

High uncertainty is an inherent implication of the zero lower bound, while deflation is not because of inflationary pressure due to uncertainty about how debt will be stabilized. We show that policy uncertainty empirically accounts for the absence of deflation in the US economy. Announcing...

Persistent link: https://www.econbiz.de/10013035011

Escaping the great recession

Bianchi, Francesco; Melosi, Leonardo - 2013

Persistent link: https://www.econbiz.de/10010193275

Escaping the Great Recession

Bianchi, Francesco; Melosi, Leonardo - In: The American economic review 107 (2017) 4, pp. 1030-1058

Persistent link: https://www.econbiz.de/10011644325

Escaping the Great Recession

Bianchi, Francesco - 2014

We show that policy uncertainty about how the rising public debt will be stabilized accounts for the lack of deflation in the US economy at the zero lower bound. We first estimate a Markov-switching VAR to highlight that a zero-lower-bound regime captures most of the comovements during the Great...

Persistent link: https://www.econbiz.de/10012458428

The Friedman rule and the zero lower bound

Buttet, Sebastien; Roy, Udayan - In: International journal of economics and finance 5 (2013) 11, pp. 22-36

Persistent link: https://www.econbiz.de/10010213395

Conservatism and liquidity traps

Nakata, Taisuke; Schmidt, Sebastian - In: Journal of monetary economics 104 (2019), pp. 37-47

Persistent link: https://www.econbiz.de/10012265161

Zero Lower Bound and Monetary Policy in the Euro Area : Optimal Monetary Policy in a Low Inflation Environment

Protze, Lars - 2008 - 1st ed.

with the restriction that interest rates can not fall below zero. Then optimal monetary policy in a low inflation … although most central banks nowadays use an inflation target instead. Reasons for an inflation target will be shown in the … discussion of the model. The second part of the book describes the inflation dynamics in the euro area to see what monetary …

Persistent link: https://www.econbiz.de/10012689033

Demographics and real interest rates : inspecting the mechanism

Carvalho, Carlos Viana de; Ferrero, Andrea; Nechio, Fernanda - 2016

The demographic transition can affect the equilibrium real interest rate through three channels. An increase in longevity - or expectations thereof - puts downward pressure on the real interest rate, as agents build up their savings in anticipation of a longer retirement period. A reduction in...

Persistent link: https://www.econbiz.de/10011439850

Demographics and real interest rates : inspecting the mechanism

Carvalho, Carlos Viana de; Ferrero, Andrea; Nechio, Fernanda - 2016

Persistent link: https://www.econbiz.de/10011532326

Population growth, saving, interest rates and stagnation : discussing the Eggertsson-Mehrotra model

Spahn, Peter - 2016

Post Keynesian stagnation theory argues that slower population growth dampens consumption and investment. A New …

Persistent link: https://www.econbiz.de/10011473021