eggertsson and woodford (2003)

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By menuDrawerCloseText menuDrawerOpenText Home. ... Eggertsson, Gauti B. and Woodford, Michael, Optimal Monetary Policy in a Liquidity Trap (September 2003).

However, as noted in Eggertsson and Woodford (2003), in the case of open-market operations that are conducted at the zero bound, the liquidity services provided by money balances at the margin have fallen to zero, so that an analysis of the kind proposed by Wallace is still correct.

NBER Working Paper No. , ,

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Eggertsson, Gauti B. and Woodford, Michael, Optimal Monetary Policy in a Liquidity Trap (September 2003). Federal Reserve Bank of New York. David Small

The consequences for the proper conduct of monetary policy of the existence of a lower bound of zero for overnight nominal interest rates has recently become a topic of lively interest. , * A Toolkit for Solving Models with a Lower Bound on Interest Rates of Stochastic Duration (with Sergey K. Egiev Alessandro Lin, Josef Platzer and Luca Riva, January 2020).For codes and … ,

w9968, Available at SSRN: Columbia University, Graduate School of Arts and Sciences, Department of Economics; National Bureau of Economic Research (NBER)We consider the consequences for monetary policy of the zero floor for nominal interest rates. By The logic is fairly simple. By Maurice Obstfeld

Stefan Gerlach

See all articles by Gauti B. Eggertsson Gauti B. Eggertsson. Institutions; Individual subscriptions; Individual renewals; Recommend to your library; Buy a print copy or back issue Kenneth Rogoff Eggertsson, G B, and M Woodford (2003), “The Zero Bound on Interest Rates and Optimal Monetary Policy”, Brookings Papers on Economic Activity, 139–211.

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NBER Working Paper No.

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