Coenen, Günter; Wieland, Volker - Center for Financial Studies - 2004
rates are bounded at zero. We compare two alternative proposals for ameliorating the effect of the zero bound: an exchange …
expectations, nominal rigidities, exchange rates
Non-technical summary
Researchers, practitioners and policymakers alike have …
No. 2004/14
Exchange-Rate Policy and the
Zero Bound on Nominal Interest
Günter Coenen and …