Search Results - subject:"zero-interest-rate bound"

Exchange-rate policy and the zero bound on nominal interest

Wieland, Volker; Coenen, Günter - 2004

In this paper, we study the effectiveness of monetary policy in a severe recession and deflation when nominal interest rates are bounded at zero. We compare two alternative proposals for ameliorating the effect of the zero bound: an exchange-rate peg and price-level targeting. We conduct this...

Persistent link: https://www.econbiz.de/10010298286

Exchange-rate policy and the zero bound on nominal interest rates

Coenen, Günter; Wieland, Volker - 2004

In this paper, we study the effectiveness of monetary policy in a severe recession and de?ation when nominal interest rates are bounded at zero. We compare two alternative proposals for ameliorating the effect of the zero bound: an exchange-rate peg and price-level targeting. We conduct this...

Persistent link: https://www.econbiz.de/10011604396

Exchange-rate policy and the zero bound on nominal interest

Wieland, Volker; Coenen, Günter - Center for Financial Studies - 2004

Persistent link: https://www.econbiz.de/10010986434

Exchange-Rate Policy and the Zero Bound on Nominal Interest

Coenen, Günter; Wieland, Volker - Center for Financial Studies - 2004

Classification: E31, E52, E58, E61 Keywords: monetary policy rules, zero-interest-rate bound, liquidity trap, rational …, the United States, the euro area and Japan. We recognize the zero-interest-rate bound explicitly in the analysis and use … comprises the United States, the euro area and Japan. We recognize the zero-interest-rate bound explic- itly in the analysis and …

Persistent link: https://www.econbiz.de/10005600449

Exchange-rate policy and the zero bound on nominal interest rates

Coenen, Günter; Wieland, Volker - European Central Bank - 2004

Persistent link: https://www.econbiz.de/10005227543

Zero lower bound: is it a problem in the euro area?

Coenen, Günter - 2003

Persistent link: https://www.econbiz.de/10011604315

Zero lower bound: is it a problem in the euro area?

Coenen, Günter - European Central Bank - 2003

JEL Classification: E31, E52, E58, E61

Persistent link: https://www.econbiz.de/10005816317

"Overcoming the zero interest-rate bound: A quantitative prescription (Revision of Working Paper No. 2006-14)"

Lewis, Kenneth A.; Seidman, Laurence S. - Department of Economics, Lerner College of Business and … - 2008

Using a macroeconometric model we provide a quantitative estimate of the cash transfer or tax cut that would achieve recovery from a severe recession when the central bank is unable to achieve full recovery because of the zero bound. We introduce an automatic transfer and simulate its triggering...

Persistent link: https://www.econbiz.de/10005695940

Optimal monetary policy under commitment with a zero bound on nominal interest rates

Adam, Klaus; Billi, Roberto M. - 2004

We determine optimal monetary policy under commitment in a forwardlooking New Keynesian model when nominal interest rates are bounded below by zero. The lower bound represents an occasionally binding constraint that causes the model and optimal policy to be nonlinear. A calibration to the U.S....

Persistent link: https://www.econbiz.de/10010298285

Optimal monetary policy under commitment with a zero bound on nominal interest rates

Adam, Klaus; Billi, Roberto M. - 2004

Persistent link: https://www.econbiz.de/10011604423