The Federal Reserve Is Not Very Constrained by the Lower Bound on Nominal Interest Rates
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I survey the literature on monetary policy at the zero lower bound (ZLB) and effective lower bound (ELB) to make three main points: First, the Federal Reserves forward guidance and large-scale asset purchases are effective monetary policy tools at the Z/ELB. Second, during the 200815 U.S. ZLB period
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美国国家经济研究局创建时间：
2018-10-01
