Clinton, Kevin; Garcia-Saltos, Roberto; Johnson, Marianne; … - In: Journal of the Japanese and International Economies 24 (2010) 2, pp. 140-177
dealing with the looming risk of international deflation. The zero floor to interest rates constrains monetary policy … turn into a prolonged, global deflation. These include: a price level path target for monetary policy, which would respond … to previous, as well as expected, shortfalls from the desired inflation rate; a more stimulative fiscal policy; and an …