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Forward Guidance Under the Cost Channel
A common finding in the literature is that forward guidance cannot be credible under discretionary policy as long as the zero lower bound is an one-off event. However, this is not the case when recurring episodes of zero interest rates are possible. In this paper, we contribute to this new result...
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| Publié dans: | MAGKS - Joint Discussion Paper Series in Economics (Band 04-2020) |
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| Auteur principal: | |
| Format: | Article |
| Langue: | anglais |
| Publié: |
Philipps-Universität Marburg
2020
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| Sujets: | |
| Accès en ligne: | Texte intégral en PDF |
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