Monetary Policy and Fiscal Stimulus with the Zero Lower Bound and Financial Frictions
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| Format: | Documento de trabajo |
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International Labour Organization
2012
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| _version_ | 1874524919702749184 |
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| author | Rossana Merola |
| author_facet | Rossana Merola Rossana Merola |
| contents | Monetary Policy and Fiscal Stimulus with the Zero Lower Bound and Financial Frictions Rossana Merola Recent developments in many industrialized countries have triggered a debate on whether monetary policy is effective when the nominal interest rate is close to zero. When the nominal interest rate hits its lower bound, the monetary authority is no longer in a position to pursue a policy of monetary easing by lowering nominal interest rates <br>further. In this paper, I assess the implications of the zero lower bound in a DSGE model with Financial frictions. IRES Discussion Paper, 2012-24, Université Catholique de Louvain postedContent.workingPaper |
| format | Documento de trabajo |
| id | ilo_995673156602676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 2012 |
| publisher | International Labour Organization |
| spellingShingle | Monetary Policy and Fiscal Stimulus with the Zero Lower Bound and Financial Frictions Rossana Merola Monetary Policy and Fiscal Stimulus with the Zero Lower Bound and Financial Frictions Rossana Merola Recent developments in many industrialized countries have triggered a debate on whether monetary policy is effective when the nominal interest rate is close to zero. When the nominal interest rate hits its lower bound, the monetary authority is no longer in a position to pursue a policy of monetary easing by lowering nominal interest rates <br>further. In this paper, I assess the implications of the zero lower bound in a DSGE model with Financial frictions. IRES Discussion Paper, 2012-24, Université Catholique de Louvain postedContent.workingPaper |
| title | Monetary Policy and Fiscal Stimulus with the Zero Lower Bound and Financial Frictions |
| url | https://researchrepository.ilo.org/esploro/outputs/workingPaper/Monetary-Policy-and-Fiscal-Stimulus-with/995673156602676 |