The Liquidity Trap
Money Demand in Japan and the Liquidity Trap
... the liquidity trap or the zero interest ...the liquidity trap feature in estimating the money demand ...the liquidity trap ...
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International economic spillovers and the liquidity trap
... ‘liquidity trap’, ie if the interest rate is constrained by the zero ...the liquidity trap amplifies the domestic effects of fiscal policy, but mitigates its spillover to ...the ...
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Policy interaction, expectations and the liquidity trap
... a liquidity trap, in which the economy slips below this low inflation steady state and is driven to an even lower inflation floor which, in turn, is supported by a switch to an aggressive money supply ...
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CiteSeerX — The Liquidity Trap: Evidence from Japan by
... Referring again to Appendix 1, we are, in effect, looking for evidence that the money-demand function has become horizontal at r. These characteristics are our criteria for rejecting or accepting the liquidity ...
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Falling into the Liquidity Trap: Notes on the Global Economic Crisis
... the liquidity trap than Hicks because he puts the investment decision at the center of the analysis rather than liquidity prefer- ...a liquidity trap: a decline in the underlying ...
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The Non Zero Lower Bound Lending Rate and the Liquidity Trap
... Bank Liquidity Trap Krugman (1998, p.148) defines the liquidity trap as: “a situation in which conventional monetary policies have become impotent, because nominal interest rates are at or ...
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The Non-Zero Lower Bound Lending Rate and the Liquidity Trap
... Most studies of the liquidity trap emphasize the zero bound benchmark policy rate. This paper integrates a non-zero lower bound lending rate and the traditional zero bound policy rate in a dynamic ...
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Debt, Deleveraging, and the Liquidity Trap:
... One thing that is especially clear from the analysis is the likelihood that policy discussion in the aftermath of a deleveraging shock will be even more confused than usual, at least viewed through the lens of the model. ...
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Debt, Deleveraging, and the Liquidity Trap:
... One thing that is especially clear from the analysis is the likelihood that policy discussion in the aftermath of a deleveraging shock will be even more confused than usual, at least viewed through the lens of the model. ...
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Helicopter Money: Irredeemable Fiat Money and the Liquidity Trap
... that liquidity trap equilibria can be ruled out once some mild and sensible restrictions are imposed on permissible monetary policies, is not restricted to the flexible price level ...
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Global Liquidity Trap
... a liquidity trap. When each country gets out of the liquidity trap is determined ...global liquidity trap, the optimal policy has two notable features: history dependence and ...
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Global liquidity trap
... a liquidity trap, Schmitt-Grohé and Uribe (2007) show that the optimal policy is replicated fairly well by the class of interest-rate rules that respond only to the in‡ation ...the liquidity ...
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Global Liquidity Trap
... The liquidity trap is no longer an extreme event only for one country, but has become an international concern that needs to be solved through international monetary ...
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Shock transmission in liquidity trap depends on SOURCE OF LIQUIDITY TRAP & SHOCK PERSISTENCE
... expectations-driven liquidity traps in open economies; a floating exchange rate regime is ...the liquidity trap matters for macroeconomic ...expectations-driven liquidity traps are well-suited ...
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Liquidity Trap, the Case of Albania
... The liquidity trap is a rare economic phenomenon. It is associated with the phenomenon of deflation and other economic phenomena with negative consequences for the economy. It is caused by switching ...
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Monetary Policy and Japan’s Liquidity Trap
... However, the Bank of Japan’s policy has mostly been about stimulating the economy and reducing the negative output gap by inducing private-sector expectations of lower future instrument rates. Thus, in the case when the ...
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Optimal Monetary Policy in a Liquidity Trap
... Figure 3 shows the optimal output gap, inflation and the price level from period 0 to period 25. One observes that the optimal policy involves committing to the creation of an output boom once the natural rate again ...
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Helicopter Drops and Japanfs Liquidity Trap
... rate, r*. I assume that r* rises over time: it starts at -2% and rises linearly to +2% over ten years. As detailed in Ball (2005a), Japan =s neutral rate appeared negative during the liquidity trap of the ...
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Managing a Liquidity Trap: Monetary and Fiscal Policy
... spending is superfluous. A naive, fiscal authority that acts with full discretion and per- forms the static cost-benefit calculation chooses the optimal path for spending. These results assume that monetary policy is ...
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Global Liquidity Trap: A Simple Analytical Investigation
... the liquidity trap in the open economy, Svensson (2001, 2003) and Coenen and Wieland (2003) investigate the zero interest rate policy in open economies and stress the importance of the depreciation of ...
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