Robust monetary policy under uncertainty about the lower bound - Research portal of Justus Liebig University Giessen:

Working paper/research report

Robust monetary policy under uncertainty about the lower bound

Authors list: Tillmann, Peter

Publication year: 2019

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

Title of series: MAGKS Joint discussion paper series in economics

Number in series: 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.

Authors/Editors

- Uni.-Prof. Dr. Peter Heinrich Tillmann

Citation Styles

Harvard Citation style: 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 Citation style: 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