Optimal Monetary Policy in a Liquidity Trap
收藏NBER2003-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w9968
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We consider the consequences for monetary policy of the zero floor for nominal interest rates. The zero bound can be a significant constraint on the ability of a central bank to combat deflation. We show, in the context of an intertemporal equilibrium model, that open-market operations, even of
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美国国家经济研究局创建时间：
2003-09-01
