Robust monetary policy under uncertainty about the lower bound - Forschungsportal der Justus-Liebig-Universität Gießen:

Arbeitspapier/Forschungsbericht

Robust monetary policy under uncertainty about the lower bound

Autorenliste: Tillmann, Peter

Jahr der Veröffentlichung: 2019

URL: https://hdl.handle.net/10419/204808

Serientitel: MAGKS Joint discussion paper series in economics

Serienzählung: 2019, 14

Abstract:

Central banks face uncertainty about the true location of the effective lower bound (ELB) on nominal interest rates. We model optimal discretionary monetary policy during a liquidity trap when the central bank designs policy that is robust with respect to the location of the ELB. If the central bank fears the worst-case location of the ELB, monetary conditions will be more expansionary before the liquidity trap occurs.

Autoren/Herausgeber

- Uni.-Prof. Dr. Peter Heinrich Tillmann

Zitierstile

Harvard-Zitierstil: Tillmann, P. (2019) Robust monetary policy under uncertainty about the lower bound. (MAGKS Joint discussion paper series in economics, 2019, 14). Marburg: Philipps-University Marburg. https://hdl.handle.net/10419/204808

APA-Zitierstil: Tillmann, P. (2019). Robust monetary policy under uncertainty about the lower bound. (MAGKS Joint discussion paper series in economics, 2019, 14). Philipps-University Marburg. https://hdl.handle.net/10419/204808