Campos, Rodolfo G.; Fernández-Villaverde, Jesús; … - National Bureau of Economic Research - 2024
adapt its monetary policy rule to the fiscal stance to guarantee that inflation remains at its target. There is, however, a … minimum level of debt below which the steady-state inflation deviates from its target due to the zero lower bound on nominal … adaptation of the monetary policy rule, as well as the performance of alternative monetary policy rules that do not require an …