On the Empirical (Ir)Relevance of the Zero Lower Bound Constraint
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The zero lower bound (ZLB) irrelevance hypothesis implies that the economy's performance is not affected by a binding ZLB constraint. We evaluate that hypothesis for the recent ZLB episode experienced by the U.S. economy (2009Q1-2015Q4). We focus on two dimensions of performance that were likely to
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美国国家经济研究局创建时间：
2019-05-01
