Monetary Policy and Financial Markets at the Effective Lower Bound
Author
Abstract
Suggested Citation
DOI: 10.1111/j.1538-4616.2010.00337.x
Download full text from publisher
Other versions of this item:
- Lars E.O. Svensson, 2010. "Monetary Policy and Financial Markets at the Effective Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 229-242, September.
References listed on IDEAS
- Cúrdia, Vasco & Woodford, Michael, 2016.
"Credit Frictions and Optimal Monetary Policy,"
Journal of Monetary Economics, Elsevier, vol. 84(C), pages 30-65.
- Vasco Cúrdia & Michael Woodford, 2008. "Credit frictions and optimal monetary policy," Working Paper Research 146, National Bank of Belgium.
- Vasco Curdia & Michael Woodford, 2015. "Credit frictions and optimal monetary policy," Working Paper Series 2015-20, Federal Reserve Bank of San Francisco.
- Woodford, Michael & Cúrdia, Vasco, 2015. "Credit Frictions and Optimal Monetary Policy," CEPR Discussion Papers 11016, C.E.P.R. Discussion Papers.
- Vasco Cúrdia & Michael Woodford, 2015. "Credit Frictions and Optimal Monetary Policy," NBER Working Papers 21820, National Bureau of Economic Research, Inc.
- Vasco Cúrdia & Michael Woodford, 2009. "Credit frictions and optimal monetary policy," BIS Working Papers 278, Bank for International Settlements.
- Paul R. Krugman, 1998. "It's Baaack: Japan's Slump and the Return of the Liquidity Trap," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 137-206.
- Svensson, Lars E.O., 2009. "Transparency under Flexible Inflation Targeting: Experiences and Challenges," CEPR Discussion Papers 7213, C.E.P.R. Discussion Papers.
- Lars E.O. Svensson, 2003.
"Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others,"
Journal of Economic Perspectives, American Economic Association, vol. 17(4), pages 145-166, Fall.
- Lars E.O. Svensson, 2003. "Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others," NBER Working Papers 10195, National Bureau of Economic Research, Inc.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- baaziz, yosra, 2016. "Les règles de Taylor à l’épreuve de la révolution : cas de l’Égypte [The Taylor rule to the test of the revolution: the case of Egypt]," MPRA Paper 69779, University Library of Munich, Germany.
- Billi, Roberto M., 2020.
"Unemployment fluctuations and nominal GDP targeting,"
Economics Letters, Elsevier, vol. 188(C).
- Billi, Roberto, 2020. "Unemployment Fluctuations and Nominal GDP Targeting," Working Paper Series 385, Sveriges Riksbank (Central Bank of Sweden).
- Roberto M. Billi, 2020.
"Output Gaps and Robust Monetary Policy Rules,"
International Journal of Central Banking, International Journal of Central Banking, vol. 16(2), pages 125-152, March.
- Billi, Roberto M., 2012. "Output Gaps and Robust Monetary Policy Rules," Working Paper Series 260, Sveriges Riksbank (Central Bank of Sweden).
- Ashoka Mody & Milan Nedeljkovic, 2018. "Central Bank Policies and Financial Markets: Lessons from the Euro Crisis," Working Papers 253, Princeton University, Department of Economics, Center for Economic Policy Studies..
- Billi, Roberto M., 2018.
"Price level targeting and risk management,"
Economic Modelling, Elsevier, vol. 73(C), pages 163-173.
- Roberto M. Billi, 2008. "Price-level targeting and risk management in a low-inflation economy," Research Working Paper RWP 08-09, Federal Reserve Bank of Kansas City.
- Billi, Roberto, 2015. "Price Level Targeting and Risk Management," Working Paper Series 302, Sveriges Riksbank (Central Bank of Sweden), revised 01 Feb 2016.
- Lars E.O. Svensson, 2020.
"What Rule for the Federal Reserve? Forecast Targeting,"
International Journal of Central Banking, International Journal of Central Banking, vol. 16(6), pages 39-95, December.
- Lars E.O. Svensson, 2017. "What Rule for the Federal Reserve? Forecast Targeting," NBER Working Papers 23993, National Bureau of Economic Research, Inc.
- Svensson, Lars E.O., 2019. "What Rule for the Federal Reserve? Forecast Targeting," CEPR Discussion Papers 13949, C.E.P.R. Discussion Papers.
- Mody, Ashoka & Nedeljkovic, Milan, 2024. "Central bank policies and financial markets: Lessons from the euro crisis," Journal of Banking & Finance, Elsevier, vol. 158(C).
- Giuseppe Galloppo & Giovanni Trovato, 2017. "Fundamental driver of fund style drift," Journal of Asset Management, Palgrave Macmillan, vol. 18(2), pages 99-123, March.
- Ashoka Mody & Milan Nedeljkovic, 2018. "Central Bank Policies and Financial Markets: Lessons from the Euro Crisis," CESifo Working Paper Series 7400, CESifo.
- Domenico Lombardi & Pierre L. Siklos & Samantha St. Amand, 2019.
"Government Bond Yields At The Effective Lower Bound: International Evidence,"
Contemporary Economic Policy, Western Economic Association International, vol. 37(1), pages 102-120, January.
- Domenico Lombardi, Pierre Siklos, Samantha St.Amand, 2017. "Government Bond Yields at the Effective Lower Bound: International Evidence," LCERPA Working Papers 0099, Laurier Centre for Economic Research and Policy Analysis, revised 01 Apr 2017.
- Domenico Lombardi & Pierre L. Siklos & Samantha St. Amand, 2017. "Government bond yields at the effective lower bound: International evidence," CAMA Working Papers 2017-32, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Ben S. Bernanke & Vincent R. Reinhart & Brian P. Sack, 2004.
"Monetary Policy Alternatives at the Zero Bound: An Empirical Assessment,"
Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 35(2), pages 1-100.
- Ben S. Bernanke & Vincent Reinhart & Brian P. Sack, 2004. "Monetary policy alternatives at the zero bound: an empirical assessment," Finance and Economics Discussion Series 2004-48, Board of Governors of the Federal Reserve System (U.S.).
- Adam, Klaus & Billi, Roberto M., 2006.
"Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(7), pages 1877-1905, October.
- Adam, Klaus & Billi, Roberto, 2003. "Optimal Monetary Policy Under Commitment with a Zero Bound on Nominal Interest Rates," CEPR Discussion Papers 4111, C.E.P.R. Discussion Papers.
- Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," Working Paper Series 377, European Central Bank.
- Roberto M. Billi & Klaus Adam, 2004. "Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates," Computing in Economics and Finance 2004 67, Society for Computational Economics.
- Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," CFS Working Paper Series 2004/13, Center for Financial Studies (CFS).
- Klaus Adam & Roberto M. Billi, 2005. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," Research Working Paper RWP 05-07, Federal Reserve Bank of Kansas City.
- David Cook & Michael B. Devereux, 2013. "The Optimal Currency Area in a Liquidity Trap," NBER Working Papers 19588, National Bureau of Economic Research, Inc.
- Evans, George W. & Guse, Eran & Honkapohja, Seppo, 2008.
"Liquidity traps, learning and stagnation,"
European Economic Review, Elsevier, vol. 52(8), pages 1438-1463, November.
- Evans, George W. & Guse, Eran & Honkapohja, Seppo, 2007. "Liquidity Traps, Learning and Stagnation," Kiel Working Papers 1341, Kiel Institute for the World Economy (IfW Kiel).
- Honkapohja, Seppo & Evans, George W. & Guse, Eran, 2007. "Liquidity Traps, Learning and Stagnation," CEPR Discussion Papers 6355, C.E.P.R. Discussion Papers.
- Evans, G.W. & Guse, E. & Honkapohja, S, 2007. "Liquidity Traps, Learning and Stagnation," Cambridge Working Papers in Economics 0732, Faculty of Economics, University of Cambridge.
- George W. Evans & Eran Guse & Seppo Honkapohja, 2007. "Liquidity Traps, Learning and Stagnation," University of Oregon Economics Department Working Papers 2007-9, University of Oregon Economics Department, revised 05 Jun 2007.
- Alan J. Auerbach & Maurice Obstfeld, 2005.
"The Case for Open-Market Purchases in a Liquidity Trap,"
American Economic Review, American Economic Association, vol. 95(1), pages 110-137, March.
- Alan J. Auerbach & Maurice Obstfeld, 2003. "The case for open-market purchases in a liquidity trap," Proceedings, Federal Reserve Bank of San Francisco, issue Mar.
- Alan J. Auerbach & Maurice Obstfeld, 2003. "The Case for Open-Market Purchases in a Liquidity Trap," NBER Working Papers 9814, National Bureau of Economic Research, Inc.
- Auerbach, Alan J. & Obstfeld, Maurice, 2012. "The Case for Open-Market Purchases in a Liquidity Trap," Center for International and Development Economics Research, Working Paper Series qt4tm5h0s3, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
- Auerbach, Alan J. & Obstfeld, Maurice, 2012. "The Case for Open-Market Purchases in a Liquidity Trap," Center for International and Development Economics Research, Working Paper Series qt84s7d8c8, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
- Alan Auerbach & Maurice Obstfeld, 2004. "The Case for Open-Market Purchases in a Liquidity Trap," Macroeconomics 0407009, University Library of Munich, Germany.
- Auerbach, Alan J. & Obstfeld, Maurice, 2004. "The Case for Open-Market Purchases in a Liquidity Trap," Center for International and Development Economics Research, Working Paper Series qt1dn4d9sr, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
- Auerbach, Alan & Obstfeld, Maurice, 2004. "The Case for Open-Market Purchases in a Liquidity Trap," CEPR Discussion Papers 4447, C.E.P.R. Discussion Papers.
- Auerbach, Alan J. & Obstfeld, Maurice, 2004. "The Case for Open-Market Purchases in a Liquidity Trap," Department of Economics, Working Paper Series qt1dn4d9sr, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Auerbach, Alan J. & Obstfeld, Maurice, 2012. "The Case for Open-Market Purchases in a Liquidity Trap," Department of Economics, Working Paper Series qt84s7d8c8, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Auerbach, Alan J. & Obstfeld, Maurice, 2012. "The Case for Open-Market Purchases in a Liquidity Trap," Department of Economics, Working Paper Series qt4tm5h0s3, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Mackowiak, Bartosz, 2006.
"What does the Bank of Japan do to East Asia?,"
Journal of International Economics, Elsevier, vol. 70(1), pages 253-270, September.
- Maćkowiak, Bartosz, 2005. "What does the Bank of Japan do to East Asia?," SFB 649 Discussion Papers 2005-059, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
- Sumner, Scott, 2015. "Nominal GDP futures targeting," Journal of Financial Stability, Elsevier, vol. 17(C), pages 65-75.
- Günter Coenen & Volker W. Wieland, 2004.
"Exchange-Rate Policy and the Zero Bound on Nominal Interest Rates,"
American Economic Review, American Economic Association, vol. 94(2), pages 80-84, May.
- Coenen, Günter & Wieland, Volker, 2004. "Exchange-rate policy and the zero bound on nominal interest rates," Working Paper Series 350, European Central Bank.
- Coenen, Gunter & Wieland, Volker, 2004. "Exchange-rate policy and the zero bound on nominal interest rates," MPRA Paper 76687, University Library of Munich, Germany.
- Wieland, Volker & Coenen, Günter, 2004. "Exchange-rate policy and the zero bound on nominal interest," CFS Working Paper Series 2004/14, Center for Financial Studies (CFS).
- Volker Wieland (Goethe University Frankfurt) & Günter Coenen (European Central Bank), 2004. "Exchange Rate Policy and the Zero Bound on Nominal Interest Rates," Computing in Economics and Finance 2004 65, Society for Computational Economics.
- Manfred Gärtner & Florian Jung, 2009. "The macroeconomics of financial crises: How risk premiums, liquidity traps and perfect traps affect policy options," University of St. Gallen Department of Economics working paper series 2009 2009-15, Department of Economics, University of St. Gallen.
- Wenzlaff, Ferdinand & Kimmich, Christian & Koudela, Thomas & Richters, Oliver & Freydorf, Christoph & Schuster, Ludwig, 2012. "Wachstumszwang in der Geldwirtschaft? Theoretische Erwägungen," EconStor Research Reports 237053, ZBW - Leibniz Information Centre for Economics.
- Pontiggia, D., 2012. "Optimal long-run inflation and the New Keynesian model," Journal of Macroeconomics, Elsevier, vol. 34(4), pages 1077-1094.
- Lewis, Kenneth A. & Seidman, Laurence S., 2008.
"Overcoming the zero interest-rate bound: A quantitative prescription,"
Journal of Policy Modeling, Elsevier, vol. 30(5), pages 751-760.
- Kenneth Lewis & Laurence Seidman, 2006. "Overcoming the Zero Interest-Rate Bound: A Quantitative Prescription," Working Papers 06-14, University of Delaware, Department of Economics.
- Miller, Marcus & Driffill, John, 2011. "Liquidity When It Matters Most: QE and Tobin?s q," CEPR Discussion Papers 8511, C.E.P.R. Discussion Papers.
- Francis E. Warnock & Veronica C. Warnock, 2005.
"International Capital Flows and U.S. Interest Rates,"
The Institute for International Integration Studies Discussion Paper Series
iiisdp103, IIIS.
- Francis E. Warnock & Veronica C. Warnock, 2005. "International capital flows and U.S. interest rates," International Finance Discussion Papers 840, Board of Governors of the Federal Reserve System (U.S.).
- Francis E. Warnock & Veronica Cacdac Warnock, 2006. "International Capital Flows and U.S. Interest Rates," NBER Working Papers 12560, National Bureau of Economic Research, Inc.
- George W. Evans, 2008.
"Monetary and Fiscal Policy under Learning in the Presence of a Liquidity Trap,"
Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 26, pages 59-86, December.
- George W. Evans, 2007. "Monetary and Fiscal Policy under Learning in the Presence of a Liquidity Trap," IMES Discussion Paper Series 07-E-15, Institute for Monetary and Economic Studies, Bank of Japan.
- Schenkelberg, Heike & Watzka, Sebastian, 2013.
"Real effects of quantitative easing at the zero lower bound: Structural VAR-based evidence from Japan,"
Journal of International Money and Finance, Elsevier, vol. 33(C), pages 327-357.
- Heike Schenkelberg & Sebastian Watzka, 2011. "Real Effects of Quantitative Easing at the Zero-Lower Bound: Structural VAR-based Evidence from Japan," CESifo Working Paper Series 3486, CESifo.
- Schenkelberg, Heike & Watzka, Sebastian, 2013. "Real effects of quantitative easing at the zero lower bound: Structural VAR-based evidence from Japan," Munich Reprints in Economics 19757, University of Munich, Department of Economics.
- Watzka, Sebastian & Schenkelberg, Heike, 2011. "Real effects of Quantitative Easing at the Zero-Lower Bound: Structural VAR-based evidence from Japan," VfS Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48687, Verein für Socialpolitik / German Economic Association.
- Mehrotra, Aaron, 2009. "The case for price level or inflation targeting--What happened to monetary policy effectiveness during the Japanese disinflation?," Japan and the World Economy, Elsevier, vol. 21(3), pages 280-291, August.
- Adam, Klaus & Billi, Roberto M., 2007.
"Discretionary monetary policy and the zero lower bound on nominal interest rates,"
Journal of Monetary Economics, Elsevier, vol. 54(3), pages 728-752, April.
- Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under discretion with a zero bound on nominal interest rates," Working Paper Series 380, European Central Bank.
- Adam, Klaus & Billi, Roberto M., 2005. "Discretionary monetary policy and the zero lower bound on nominal interest rates," CFS Working Paper Series 2005/16, Center for Financial Studies (CFS).
- Klaus Adam & Roberto M. Billi, 2005. "Discretionary monetary policy and the zero lower bound on nominal interest rates," Research Working Paper RWP 05-08, Federal Reserve Bank of Kansas City.
- Adam, Klaus & Billi, Roberto, 2004. "Optimal Monetary Policy Under Discretion with a Zero Bound on Nominal Interest Rates," CEPR Discussion Papers 4585, C.E.P.R. Discussion Papers.
- Jaremski, Matthew & Mathy, Gabriel, 2018.
"How was the quantitative easing program of the 1930s Unwound?,"
Explorations in Economic History, Elsevier, vol. 69(C), pages 27-49.
- Gabriel P. Mathy & Matthew Jaremski, 2016. "How Was the Quantitative Easing Program of the 1930s Unwound?," Working Papers 2016-01, American University, Department of Economics.
- Matthew Jaremski & Gabriel Mathy, 2017. "How was the Quantitative Easing Program of the 1930s Unwound?," NBER Working Papers 23788, National Bureau of Economic Research, Inc.
- Yu-chin Chen & Pisut Kulthanavit, 2008. "Adaptive Learning and Monetary Policy: Lessons from Japan," Working Papers UWEC-2008-12-P, University of Washington, Department of Economics, revised Oct 2008.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:jmoncb:v:42:y:2010:i:s1:p:229-242. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.