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Uncertainty, the Liquidity Trap and Social Insurance

Mericle, David - 2012

This paper reframes the standard liquidity trap model by capturing the costly feedback loop between idiosyncratic risk … risk into a new Keynesian setting featuring two frictions, sticky prices and the zero lower bound. I calibrate a regime … unemployment rather than an increase in the labor wedge. Increased unemployment risk compounds the original rise in idiosyncratic …

Persistent link: https://www.econbiz.de/10013104622

Unemployment Risk, Liquidity Traps, and Monetary Policy

Bonciani, Dario; Oh, Joonseok - 2021

When the economy is in a liquidity trap and households have a precautionary motive to save against unemployment risk … unemployment risk and decline in demand. As a result, market incompleteness may alleviate contractions in output and inflation …

Persistent link: https://www.econbiz.de/10013242832

Unemployment risk, liquidity traps and monetary policy

Bonciani, Dario; Oh, Joonseok - 2021

Persistent link: https://www.econbiz.de/10012795006

Robust monetary policy under uncertainty about the lower bound

Tillmann, Peter - 2019

Central banks face uncertainty about the true location of the effective lower bound (ELB) on nominal interest rates. We model optimal discretionary monetary policy during a liquidity trap when the central bank designs policy that is robust with respect to the location of the ELB. If the central...

Persistent link: https://www.econbiz.de/10011992357

Robust monetary policy under uncertainty about the lower bound

Tillmann, Peter - In: The B.E. journal of macroeconomics 21 (2021) 1, pp. 309-321

Persistent link: https://www.econbiz.de/10012437728

Optimal robust monetary and fiscal policy under uncertainty on the lower bound

Özcan, Gülserim; Traficante, Guido - In: Journal of macroeconomics 81 (2024), pp. 1-21

Persistent link: https://www.econbiz.de/10015064426

Unemployment risk, liquidity traps and monetary policy

Bonciani, Dario; Oh, Joonseok - 2021

Persistent link: https://www.econbiz.de/10013226757

Insights on endogenous money and the liquidity preference theory of interest

Asensio, Angel - In: Journal of post-Keynesian economics : JPKE 40 (2017) 3, pp. 327-348

Persistent link: https://www.econbiz.de/10011980945

A simple stock-flow consistent model with short-term and long-term debt : a comment on Claudio Sardoni

Lavoie, Marc; Zezza, Gennaro - In: Review of political economy 32 (2020) 3, pp. 459-473

Persistent link: https://www.econbiz.de/10012310643

Keynesian economics, monetary policy and the business cycle : new and old

Cukierman, Alex - In: CESifo economic studies : CESifo, a joint initiative of … 51 (2005) 4, pp. 697-728

After a brief review of the main differences between New and Old Keynesian economics from the sixties this paper focuses on a tension between traditional sluggish measures of potential output commonly used by policymakers and the New Keynesian (NK) notion of this variable which conceptualizes it...

Persistent link: https://www.econbiz.de/10003229177