Learning to Live in a Liquidity Trap
收藏NBER2017-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w23725
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The Taylor rule in combination with the zero lower bound on nominal rates has been shown to create an unintended liquidity-trap equilibrium. The relevance of this equilibrium has been challenged on the basis that it is not stable under least-square learning. In this paper, we show that the liquidity
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美国国家经济研究局创建时间：
2017-08-01
