Reifschneider, David Leon; Roberts, John M. - 2005
these
studies examined the effects of changes in monetary policy using stylized models—for
example, Eggertson and Woodford …, 1999). In addition, a
number of studies—such as Clarida, Gali, and Gertler (2000) and English, Nelson, and
Sack (2003 … standard
Taylor rule. Hence, these results suggest that, in the event of a downturn so severe it
produces a zero …