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Displaying results 1 to 4 of 4.

  1. Optimal monetary policy under commitment with a zero bound on nominal interest rates
    Author: Adam, Klaus; Billi, Roberto M.
    Published: 2004
    Publisher:  Europ. Central Bank, Frankfurt am Main

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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    RVK Categories: QM 430 ; QB 910 ; QM 430 ; QB 910
    Series: Working paper series / European Central Bank ; Eurosystem ; No. 377
    Subjects: Zinspolitik; Monopolistische Konkurrenz; Preisstarrheit; Schock <Wirtschaft>; Schätzung; :z Geschichte 1983-2002; Geldpolitik; Zerobond; Nominalzins
    Other subjects: (stw)1983-2002; (stw)Zinspolitik; (stw)Monopolistischer Wettbewerb; (stw)Preisrigidität; (stw)Schock; (stw)Schätzung; (stw)USA; nonlinear optimal policy; zero interest rate bound; commitment; liquidity trap; New Keynesian; Arbeitspapier; Graue Literatur
    Scope: 53 S., graph. Darst., 30 cm
    Notes:

    Literaturverz. S. 36 - 39
  2. Optimal monetary policy under commitment with a zero bound on nominal interest rates
    Author: Adam, Klaus; Billi, Roberto M.
    Published: 2005
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    RVK Categories: QM 430 ; QB 910 ; QM 430 ; QB 910
    Edition: Version May 7, 2004
    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2004,13
    Subjects: Zinspolitik; Monopolistische Konkurrenz; Preisstarrheit; Schock <Wirtschaft>; Schätzung; :z Geschichte 1983-2002; Geldpolitik; Zerobond; Nominalzins
    Other subjects: (stw)1983-2002; (stw)Zinspolitik; (stw)Monopolistischer Wettbewerb; (stw)Preisrigidität; (stw)Schock; (stw)Schätzung; (stw)USA; nonlinear optimal policy; zero interest rate bound; commitment; liquidity trap; New Keynesian; Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  3. Optimal monetary policy under commitment with a zero bound on nominal interest rates
    Author: Adam, Klaus; Billi, Roberto M.
    Published: 2014
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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  4. The zero-interest-rate and the role of the exchange rate for monetary policy in Japan
    Author: Coenen, Günter; Wieland, Volker
    Published: 2003
    Publisher:  Center for Financial Studies, Frankfurt, Main

    In this paper we study the role of the exchange rate in conducting monetary policy in an economy with near-zero nominal interest rates as experienced in Japan since the mid-1990s. Our analysis is based on an estimated model of Japan, the United... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 108 (2003,9)
    Inter-library loan:
    No inter-library loan

     

    In this paper we study the role of the exchange rate in conducting monetary policy in an economy with near-zero nominal interest rates as experienced in Japan since the mid-1990s. Our analysis is based on an estimated model of Japan, the United States and the euro area with rational expectations and nominal rigidities. First, we provide a quantitative analysis of the impact of the zero bound on the effectiveness of interest rate policy in Japan in terms of stabilizing output and inflation. Then we evaluate three concrete proposals that focus on depreciation of the currency as a way to ameliorate the effect of the zero bound and evade a potential liquidity trap. Finally, we investigate the international consequences of these proposals.

     
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    Content information
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/72634
    Series: CFS Working Paper ; 2003/09
    Subjects: monetary policy rules; zero interest rate bound; liquidity trap; rational expectations; nominal rigidities; exchange rates; monetary transmission.
    Scope: Online-Ressource (41 S.), graph. Darst.