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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Bibliographic Details

Published in:	MAGKS - Joint Discussion Paper Series in Economics (Band 04-2020)
Main Author:	Finck, David
Format:	Article
Language:	English
Published:	Philipps-Universität Marburg 2020
Subjects:	Discretion Wirtschaft Cost Channel Sustainability Forward Guidance Economics
Online Access:	PDF Full Text
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