Cargando…
Zero lower bound and monetary policy in the euro area : optimal monetary policy in a low inflation environment /
Central banks around the world try to influence economic activity by altering nominal interest rates which will have an effect on the real rate. However, this is only possible as long as interest rates are above zero. The case of Japan showed that monetary policy was helpless as nominal rates approa...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Hamburg :
Diplomica Verlag,
2008.
|
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Central banks around the world try to influence economic activity by altering nominal interest rates which will have an effect on the real rate. However, this is only possible as long as interest rates are above zero. The case of Japan showed that monetary policy was helpless as nominal rates approached zero. This Book starts with an overview of monetary policy with the restriction that interest rates can not fall below zero. Then optimal monetary policy in a low inflation environment is treated. This is done by using a New Keynesian model with sticky prices. Therefore the model and the necess. |
|---|---|
| Notas: | Cover title. |
| Descripción Física: | 1 online resource (iv, 172 pages) : portrait |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 9783836614900 3836614901 |