Dynamic Debt Deleveraging and Optimal Monetary Policy
收藏NBER2014-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w20556
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资源简介：
This paper studies optimal monetary policy under dynamic debt deleveraging once the zero bound is binding. Unlike the existing literature, the natural rate of interest is endogenous and depends on macroeconomic policy. Optimal monetary policy successfully raises the natural rate of interest by
提供机构：
美国国家经济研究局
创建时间：
2014-10-01
