Svensson, Lars E. O. - 2006
Monetary Policy and Japan’s Liquidity Trap
by
Lars E.O. Svensson …’s Liquidity Trap
∗
Lars E.O. Svensson
Princeton University, CEPR, and NBER
First version: September 2005
This version: January … have been to lower expectations of future interest rates.
But the problem in a liquidity trap (when the zero lower bound on …