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La trappe à liquidité globale

Author

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  • Olivier Jeanne

Abstract

One may wonder about the risk that a large fraction of the global economy fall in a Japanese-style liquidity trap with low growth, mild deflation and monetary policy rates close to zero. This would put the world economy in a ?global liquidity trap?, a situation that has not been analyzed in the recent literature. This article, after reviewing some lessons of the Japanese experience, summarizes the main results of a two-country model of the global liquidity trap, and its implications for macroeconomic policy-making. Classification JEL : E52, E58, F41, F42

Suggested Citation

  • Olivier Jeanne, 2010. "La trappe à liquidité globale," Revue économique, Presses de Sciences-Po, vol. 61(3), pages 395-406.
    • Handle: RePEc:cai:recosp:reco_613_0395
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    Cited by:

    1. Kollmann, Robert, 2021. "Liquidity traps in a world economy," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).

    More about this item

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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