Wieland, Volker (contributor); Coenen, Günter (contributor) - 2004
Classification: E31, E52, E58, E61
Keywords: monetary policy rules, zero-interest-rate bound, liquidity trap, rational … in Japan the threat of deflation and a liquidity trap has taken
center stage in the debate on the proper formulation of … reduced effectiveness of
monetary policy in a liquidity trap. As shown by the solid line in the left panel of Figure 2
nominal …