Relevant bibliographies by topics / Zero-bound interest rates

Contents

  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Reports

Academic literature on the topic 'Zero-bound interest rates'

Author: Grafiati
Published: 4 June 2021
Last updated: 6 February 2022

Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles

Select a source type:

Consult the lists of relevant articles, books, theses, conference reports, and other scholarly sources on the topic 'Zero-bound interest rates.'

Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.

You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.

Journal articles on the topic "Zero-bound interest rates"

1

Klose, Jens. "Exchange rate movements in the presence of the zero lower bound." Banks and Bank Systems 12, no. 1 (March 24, 2017): 82–87. http://dx.doi.org/10.21511/bbs.12(1).2017.10.

Full text
Abstract:
Exchange rates are expected to adjust according to the stance of monetary policies, which are in normal times differences in interest rates set by the central banks. This interest rate parity does, however, no longer hold if central banks approach the zero lower bound on interest rates and switch to measures of quantitative easing. Therefore, the author estimates exchange rate changes based on the different stance of the monetary base, which is an indicator of differing monetary policies in the countries. The results reveal that indeed exchange rates movements in the Dollar-Euro-Rate can be explained by differences in the monetary base, since the zero lower bound has become binding. However, the influence depends crucially on whether the monetary base is increased or decreased and whether the other central bank is also expanding or reducing its balance sheet at the same time. Keywords: monetary base, exchange rate, Fed, ECB. JEL Classification: E52, E58, F42
APA, Harvard, Vancouver, ISO, and other styles
2

Williamson, Stephen D. "Low real interest rates and the zero lower bound." Review of Economic Dynamics 31 (January 2019): 36–62. http://dx.doi.org/10.1016/j.red.2018.12.003.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Eggertsson, Gauti B., and Michael, Professor Woodford. "Zero Bound on Interest Rates and Optimal Monetary Policy." Brookings Papers on Economic Activity 2003, no. 1 (2003): 139–233. http://dx.doi.org/10.1353/eca.2003.0010.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Bodenstein, Martin, Luca Guerrieri, and Christopher J. Gust. "Oil Shocks and the Zero Bound on Nominal Interest Rates." International Finance Discussion Paper 2010, no. 1009 (September 2010): 1–47. http://dx.doi.org/10.17016/ifdp.2010.1009.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Fendel, Ralf, and Michael Frenkel. "Deflation and the zero lower bound on nominal interest rates." Financial Markets and Portfolio Management 18, no. 2 (June 2004): 160–81. http://dx.doi.org/10.1007/s11408-004-0204-z.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Jarrow, Robert A. "The zero-lower bound on interest rates: Myth or reality?" Finance Research Letters 10, no. 4 (December 2013): 151–56. http://dx.doi.org/10.1016/j.frl.2013.08.003.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Wolman, Alexander L. "Real Implications of the Zero Bound on Nominal Interest Rates." Journal of Money, Credit, and Banking 37, no. 2 (2005): 273–96. http://dx.doi.org/10.1353/mcb.2005.0026.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Bodenstein, Martin, Luca Guerrieri, and Christopher J. Gust. "Oil shocks and the zero bound on nominal interest rates." Journal of International Money and Finance 32 (February 2013): 941–67. http://dx.doi.org/10.1016/j.jimonfin.2012.08.002.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Correia, Isabel, Emmanuel Farhi, Juan Pablo Nicolini, and Pedro Teles. "Unconventional Fiscal Policy at the Zero Bound." American Economic Review 103, no. 4 (June 1, 2013): 1172–211. http://dx.doi.org/10.1257/aer.103.4.1172.

Full text
Abstract:
When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that, in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use inefficient policies such as wasteful public spending or future commitments to low interest rates. (JEL E12, E43, E52, E62, H20)
APA, Harvard, Vancouver, ISO, and other styles
10

McCallum, Bennett T. "Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates." Journal of Money, Credit and Banking 32, no. 4 (November 2000): 870. http://dx.doi.org/10.2307/2601148.

Full text
APA, Harvard, Vancouver, ISO, and other styles
More sources

Dissertations / Theses on the topic "Zero-bound interest rates"

1

Cavaco, Francisco Ferreira. "Are negative interest rates on bank credit possible?" Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/20570.

Full text
Abstract:
Mestrado em Economia Monetária e Financeira
Na atual estrutura monetária, os bancos centrais estão limitados no seu objetivo de assegurar estabilidade de preços e pleno emprego devido ao limite inferior zero nas taxas de juro nominais. Isto acontece porque taxas de juro nominais negativas nos depósitos bancários - condição necessária para alcançar taxas de juro nominais negativas no crédito bancário - causariam uma fuga de depósitos para dinheiro físico, pois o dinheiro físico paga uma taxa de juro nominal igual a zero. Para contrariar esta restrição, propomos uma nova arquitetura monetária que, ao tornar o banco central como a única fonte de financiamento para empréstimos bancários a taxa de juro negativa, irá permitir aos bancos conceder crédito a juros negativos de forma lucrativa - podendo estes manter as taxas de juros dos depósitos dos seus clientes a valores não negativos.
Under the current monetary framework, central banks are limited in their pursue of price stability and full employment due to the zero lower bound on nominal interest rates. This happens because negative nominal rates on bank deposits - deemed a necessary condition for negative nominal rates on bank credit - will cause a massive flight from deposits to cash, as cash pays zero nominal interest rates. To counter this constraint, we propose a new monetary architecture that by making the central bank the single source of funding for bank loans at negative nominal interest rates, enables banks to profitably extend credit at negative nominal rates - while still paying zero interest rates on their clients' deposits.
info:eu-repo/semantics/publishedVersion
APA, Harvard, Vancouver, ISO, and other styles
2

Roussellet, Guillaume. "Non-Negativity, Zero Lower Bound and Affine Interest Rate Models." Thesis, Paris 9, 2015. http://www.theses.fr/2015PA090012/document.

Full text
Abstract:
Cette thèse présente plusieurs extensions relatives aux modèles affines positifs de taux d'intérêt. Un premier chapitre introduit les concepts reliés aux modélisations employées dans les chapitres suivants. Il détaille la définition de processus dits affines, et la construction de modèles de prix d'actifs obtenus par non-arbitrage. Le chapitre 2 propose une nouvelle méthode d’estimation et de filtrage pour les modèles espace-état linéaire-quadratiques. Le chapitre suivant applique cette méthode d’estimation à la modélisation d’écarts de taux interbancaires de la zone Euro, afin d’en décomposer les fluctuations liées au risque de défaut et de liquidité. Le chapitre 4 développe une nouvelle technique de création de processus affines multivariés à partir leurs contreparties univariées, sans imposer l’indépendance conditionnelle entre leurs composantes. Le dernier chapitre applique cette méthode et dérive un processus affine multivarié dont certaines composantes peuvent rester à zéro pendant des périodes prolongées. Incorporé dans un modèle de taux d’intérêt, ce processus permet de rendre compte efficacement des taux plancher à zéro
This thesis presents new developments in the literature of non-negative affine interest rate models. The first chapter is devoted to the introduction of the main mathematical tools used in the following chapters. In particular, it presents the so-called affine processes which are extensively employed in no-arbitrage interest rate models. Chapter 2 provides a new filtering and estimation method for linear-quadratic state-space models. This technique is exploited in the 3rd chapter to estimate a positive asset pricing model on the term structure of Euro area interbank spreads. This allows us to decompose the interbank risk into a default risk and a liquidity risk components. Chapter 4 proposes a new recursive method for building general multivariate affine processes from their univariate counterparts. In particular, our method does not impose the conditional independence between the different vector elements. We apply this technique in Chapter 5 to produce multivariate non-negative affine processes where some components can stay at zero for several periods. This process is exploited to build a term structure model consistent with the zero lower bound features
APA, Harvard, Vancouver, ISO, and other styles
3

Novoselova, Ksenia. "Efekty kvantitativního uvolňování v USA, Japonsku, Eurozóně a Velké Británii." Master's thesis, Vysoká škola ekonomická v Praze, 2017. http://www.nusl.cz/ntk/nusl-360682.

Full text
Abstract:
This master thesis aims to describe problematics of the effects of unconventional monetary policy, also known as quantitative easing, on economics of USA, Japan, Eurozone and Great Britain, by using empirical analysis of events related to quantitative easing and large BVAR model. In theoretical part of the thesis there are described transmission mechanisms of conventional monetary policy still effective in conditions of interest rates close to zero, as well as channels of unconventional monetary policy. Practical part of the thesis demonstrates analysis of impact of events related to quantitative easing in all the in-scope economics by applying a method of empirical observation of interest rates reactions on every event. Further, based on the received results of the empirical analysis, broader economic effects of quantitative easing are examined by using large BVAR model and afterwards the conclusion is made.
APA, Harvard, Vancouver, ISO, and other styles
4

Zhang, Yifei. "Zero Lower Bound and Uncovered Interest Parity – A Forecasting Perspective." Miami University / OhioLINK, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=miami1532698263083492.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Dragoun, Josef. "Nekonvenční monetární politika po krachu Lehman Brothers." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-202129.

Full text
Abstract:
This diploma thesis is focused on unconventional monetary policy tools that individual central banks introduced into practise as a response to the global financial crisis. It is about quantitative easing policy, foreign exchange interventions with exchange rate commitment and negative interest rates. This thesis also deals with classical tools of monetary policy such as open market operations, discount tools, minimum requirement reserve or foreign exchange interventions. The aim of the thesis is to document the development of central banks policy and then to examine relationship of selected assets in comparison with balance sheet of Federal reserve systems with help of correlation coefficient. The thesis also deals with the thought how should behave in the zero lower bound environment and what are the pitfalls of unconventional monetary policy.
APA, Harvard, Vancouver, ISO, and other styles
6

Huber, Florian, and Maria Teresa Punzi. "International Housing Markets, Unconventional Monetary Policy and the Zero Lower Bound." WU Vienna University of Economics and Business, 2016. http://epub.wu.ac.at/4824/1/wp216.pdf.

Full text
Abstract:
In this paper we propose a time-varying parameter VAR model for the housing market in the United States, the United Kingdom, Japan and the Euro Area. For these four economies, we answer the following research questions: (i) How can we evaluate the stance of monetary policy when the policy rate hits the zero lower bound? (ii) Can developments in the housing market still be explained by policy measures adopted by central banks? (iii) Did central banks succeed in mitigating the detrimental impact of the financial crisis on selected housing variables? We analyze the relationship between unconventional monetary policy and the housing markets by using the shadow interest rate estimated by Krippner (2013b). Our findings suggest that the monetary policy transmission mechanism to the housing market has not changed with the implementation of quantitative easing or forward guidance, and central banks can affect the composition of an investors portfolio through investment in housing. A counterfactual exercise provides some evidence that unconventional monetary policy has been particularly successful in dampening the consequences of the financial crisis on housing markets in the United States, while the effects are more muted in the other countries considered in this study. (authors' abstract)
Series: Department of Economics Working Paper Series
APA, Harvard, Vancouver, ISO, and other styles
7

Oliveira, Mário André Santos de. "Should central banks increase the inflation target?" Master's thesis, Instituto Superior de Economia e Gestão, 2016. http://hdl.handle.net/10400.5/13101.

Full text
Abstract:
Mestrado em Economia Monetária e Financeira
Tipicamente os Bancos Centrais usam as taxas de juro para inverter os efeitos das crises económicas. No entanto, temos observado que se as taxas de juro nominais já estiverem muito próximo de zero, então a capacidade que estes têm de usar este mecanismo para estimular a actividade económica é reduzida. O principal objectivo desta dissertação é estudar se aumentando o nível médio de inflação, aumenta a capacidade do bancos centrais em inverter crises económicas. Especificamente, iremos estudar se a taxa de juro real diminui mais para valores médios mais elevados da taxa de inflação, quando um choque exógeno na taxa de juro nominal ocorre. Para tal, iremos utilizar um modelo de equilíbrio geral, onde os agentes são heterogéneos na quantidade de moeda que detêm. O nosso modelo sugere que aumentar o target da inflação não aumenta o estímulo provocado pela taxa de juro real, quando um choque de 1 ponto-percentual ocorre sobre a taxa de juro nominal. De facto, o que se verifica é que a taxa de juro real diminui mais quanto menor for o nível médio de inflação. Isto ocorre porque o grau de price stickiness é menor para níveis mais elevados do target da inflação.
Typically when central banks face economic slowdowns they use the interest rate channel to boost economies. However, we have seen that if the nominal interest rate is already at low levels, then their capacity to invert such economic slowdowns is little. The main objective of this dissertation is to study whether increasing the inflation target can increase the capacity of central banks to invert economic downturns. Specifically, we will study whether the real interest rate decreases more when the inflation target is higher, as a response to a negative shock in the nominal interest rate. To study this we use a general equilibrium model, where agents are heterogeneous in their amount of money holdings. Our model suggests that increasing the inflation target does not increase the real stimulus of central banks when they decrease the nominal interest rate by one percentage-point. In fact, the real interest rate declines more, the lower the target. This occurs because the degree of price stickiness is lower for higher levels of inflation.
info:eu-repo/semantics/publishedVersion
APA, Harvard, Vancouver, ISO, and other styles
8

Celer, Martin. "Kvantitativní uvolňování – měnová politika při nulové nominální úrokové míře." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-201844.

Full text
Abstract:
This diploma thesis describes the Quantitative easing as an unconvetional tool of the monetary policy. In the first chapter of this thesis there is theoretical analysis of the zero lower bound and also of specific phenomenon that might occur in this situation (the liquidity trap). The second chapter deals with the quantitative easing as a monetary policy with focus on the United States. It summarizes its development during three so called rounds, during which the quantitative easing has been used. This chapter also contains analysis of the entrance and exit strategy of the quantitative easing. In the third chapter, there is an econometric model estimated by ordinary least squares method with robust errors. This model is being used to verify the hypothesis whether the quantitative easing lowered long-term interest rates. The hypothesis has been rejected as the quantitative easing does not have statistically significant effect on any selected long-term bonds.
APA, Harvard, Vancouver, ISO, and other styles
9

Soares, Tiago Filipe Henriques. "Removing the Zero Lower Bound on Nominal Interest Rates in the Case of the European Central Bank." Dissertação, 2020. https://hdl.handle.net/10216/129567.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Soares, Tiago Filipe Henriques. "Removing the Zero Lower Bound on Nominal Interest Rates in the Case of the European Central Bank." Master's thesis, 2020. https://hdl.handle.net/10216/129567.

Full text
APA, Harvard, Vancouver, ISO, and other styles

Books on the topic "Zero-bound interest rates"

1

McCallum, Bennett T. Theoretical analysis regarding a zero lower bound on nominal interest rates. Cambridge, MA: National Bureau of Economic Research, 2000.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
2

Amirault, David. The zero bound on nominal interest rates: How important is it? Ottawa, Ont: Bank of Canada, 2001.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
3

Amirault, David. The zero bound on nominal interest rates: How important is it? Ottawa: Bank of Canada, 2001.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
4

Adam, Klaus. Discretionary monetary policy and the zero lower bound on nominal interest rates. Kansas City [Mo.]: Research Division, Federal Reserve Bank of Kansas City, 2005.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
5

Adam, Klaus. Optimal monetary policy under commitment with a zero bound on nominal interest rates. Kansas City [Mo.]: Research Division, Federal Reserve Bank of Kansas City, 2005.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
6

Akyüz, Yilmaz. Conclusions. Oxford University Press, 2017. http://dx.doi.org/10.1093/oso/9780198797173.003.0008.

Full text
Abstract:
The preceding chapters have examined the deepened integration of emerging and developing economies (EDEs) into the international financial system in the new millennium and their changing vulnerabilities to external financial shocks. They have discussed the role that policies in advanced economies played in this process, including those that culminated in the global financial crisis and the unconventional monetary policy of zero-bound interest rates and quantitative easing adopted in response to the crisis, as well as policies in EDEs themselves....
APA, Harvard, Vancouver, ISO, and other styles
7

Homburg, Stefan. Constrained Credit. Oxford University Press, 2017. http://dx.doi.org/10.1093/oso/9780198807537.003.0004.

Full text
Abstract:
Chapter 4 considers economies with borrowing constraints. This assumption is motivated by the observation that monetary expansions after the Great Recession did not entail inflation in the expected manner. At the same time, nominal and real interest rates tended to decline in many advanced economies. The text offers an in-depth analysis of credit crunches, liquidity traps, and interest rates at the zero lower bound and demonstrates that borrowing constraints help reconcile theory and evidence. According to the key insight, a binding borrowing constraint detaches money creation from credit creation. In this case, inflation ceases to be a monetary phenomenon, as in standard models, but becomes a credit phenomenon. This finding explains why expansionary monetary policies failed to produce inflation since the Great Recession.
APA, Harvard, Vancouver, ISO, and other styles
8

Homburg, Stefan. A Study in Monetary Macroeconomics. Oxford University Press, 2017. http://dx.doi.org/10.1093/oso/9780198807537.001.0001.

Full text
Abstract:
The Great Recession of 2008/09 and its aftermath present a major challenge to macroeconomics. Many researchers think that prevailing models fail to grasp essential aspects of recent developments, including unprecedented monetary policies and interest rates at the zero lower bound. Approaches that focus on steady states, rational expectations, and individuals planning over infinite horizons are not suitable for analyzing such abnormal situations. This text does not criticize the traditional approach but aims at improvement. The study’s distinctive feature is a rich institutional structure that includes elements such as credit money, external finance, borrowing constraints, net worth, real estate, and commercial banks. To cope with such a complex setting, the text reduces rationality requirements but adheres to the method of dynamic general equilibrium (DGE) with optimizing agents and fully specified models. Results are derived from mathematical reasoning and simulations. Starting with a simple baseline model, the argument is developed step by step in a unified framework that covers almost everything of interest for monetary macroeconomists. The topics discussed include the superneutrality of money, the Tobin effect, monetary policy under sticky prices and wages, but also liquidity traps with borrowing constraints, Fisherian debt-deflations, housing cycles, and environments with excess bank reserves. The text addresses researchers worldwide and may prove useful for teaching postgraduate and advanced graduate courses. The principle objective is to demonstrate that a “not-too-rational” DGE approach makes it possible to develop clean models that work outside steady states and are appropriate for answering macroeconomic questions of actual interest.
APA, Harvard, Vancouver, ISO, and other styles
9

Barthélemy, Jean, and Magali Marx. Solving Rational Expectations Models. Edited by Shu-Heng Chen, Mak Kaboudan, and Ye-Rong Du. Oxford University Press, 2018. http://dx.doi.org/10.1093/oxfordhb/9780199844371.013.6.

Full text
Abstract:
This chapter presents theoretical foundations of main methods of solving rational expectations models with a special focus on perturbation approaches. First, it gives some insights into the solution methods for linear models. Second, it shows how to use the perturbation approach for solving nonlinear models. It then documents the limits of this approach. The perturbation approach, though the most common solution method in the macroeconomic literature, is inappropriate in contexts of large fluctuations (large shocks or regime switching) and of strong nonlinearities (e.g., occasionally binding constraints). The former case is illustrated by regime switching models. The latter case is illustrated by a study of existing methods for solving rational expectations models under the zero lower bound constraint, that is, the condition of non-negativity of the nominal interest rate. The chapter concludes with a presentation of global methods available when the perturbation approach fails in solving models.
APA, Harvard, Vancouver, ISO, and other styles

Book chapters on the topic "Zero-bound interest rates"

1

Bindseil, Ulrich, and Alessio Fotia. "Unconventional Monetary Policy." In Introduction to Central Banking, 53–65. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-70884-9_4.

Full text
Abstract:
AbstractThis chapter introduces the reader to unconventional monetary policy, i.e. monetary policy using instruments going beyond the steering of short-term interest rates as described in the previous chapter. We start by providing the rationale of unconventional monetary policy, i.e. essentially pursuing an effective monetary policy when conventional policies are not able to provide the necessary monetary accommodation because of the zero lower bound. We then discuss negative interest rate policies, and explain why rates slightly below zero have proven to be feasible despite the existence of banknotes. We also discuss possible unintended side-effects of negative interest rates. We continue with a discussion of non-conventional credit operations: lengthening of their duration, the use of fixed-rate full allotment, the widening of the access of counterparties to the central bank’s credit operation, targeted operations, credit in foreign currency, and widening the collateral set. Finally, we turn to the purposes and effects of securities purchase programmes. We end the chapter by revisiting the classification of central bank instruments in three categories: conventional, unconventional, and lender of last resort.
APA, Harvard, Vancouver, ISO, and other styles
2

von Weizsäcker, Carl Christian, and Hagen M. Krämer. "A New Era of International Economic Policy." In Saving and Investment in the Twenty-First Century, 261–74. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-75031-2_10.

Full text
Abstract:
AbstractWe distinguish between a “Friedman world” and a “Keynes world,” the latter being characterized by the zero lower bound problem. With the natural rate of interest tending to fall over time, the Keynes world is becoming the norm. In the Keynes world, voters defend their interests as producers more than their interests as consumers. This strengthens protectionism at the ballot box. We are less and less able to rely on the USA to serve as the engine of the global economy via its high current account deficits. In addition to the WTO rules, an international fiscal order is needed to rescuefree trade: 1. At low real interest rates, countries with current account surpluses undertake to eliminate them by increasing government net borrowing. 2. At high real interest rates, countries with current account deficits undertake to eliminate them by cutting fiscal expenditure or raising taxes.
APA, Harvard, Vancouver, ISO, and other styles
3

Bindseil, Ulrich, and Alessio Fotia. "Conventional Monetary Policy." In Introduction to Central Banking, 29–51. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-70884-9_3.

Full text
Abstract:
AbstractThis chapter introduces conventional monetary policy, i.e. monetary policy during periods of economic and financial stability and when short-term interest rates are not constrained by the zero lower bound. We introduce the concept of an operational target of monetary policy and explain why central banks normally give this role to the short-term interbank rate. We briefly touch macroeconomics by outlining how central banks should set interest rates across time to achieve their ultimate target, e.g. price stability, and we acknowledge the complications in doing so. We then zoom further into monetary policy operations and central bank balance sheets by developing the concepts of autonomous factor, monetary policy instruments, and liquidity-absorbing and liquidity providing balance sheet items. Subsequently we explain how these quantities relate to short-term interest rates, and how the central bank can rely on this relation to steer its operational target, and thereby the starting point of monetary policy transmission. Finally, we explain the importance of the collateral framework and related risk control measures (e.g. haircuts) for the liquidity of banks and for the conduct of central bank credit operations.
APA, Harvard, Vancouver, ISO, and other styles
4

McCulloch, J. Huston. "The Taylor Rule, the Zero Lower Bound, and the Term Structure of Interest Rates." In Monetary Policy in the Context of the Financial Crisis: New Challenges and Lessons, 405–17. Emerald Group Publishing Limited, 2015. http://dx.doi.org/10.1108/s1571-038620150000024023.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Rostagno, Massimo, Carlo Altavilla, Giacomo Carboni, Wolfgang Lemke, Roberto Motto, Arthur Saint Guilhem, and Jonathan Yiangou. "The Second Regime." In Monetary Policy in Times of Crisis, 255–321. Oxford University Press, 2021. http://dx.doi.org/10.1093/oso/9780192895912.003.0006.

Full text
Abstract:
That the euro area economy had switched over into the second regime described in Chapter 3 became more evident in the last phase of the crisis. In this chapter, we describe the landscape facing the ECB in 2013 and 2014, with disinflationary demand shocks replacing inflationary cost-push shocks as the dominant force in the economy. With conventional policy unavailable, we outline the series of unconventional policies launched by the European Central Bank (ECB) to avert a multi-year depression and the deflation scenario that would have accompanied it. We chart the evolution from a policy of ‘separation’ to one of ‘combination’, with different policies seen as mutually reinforcing in fighting deflation risks. We illuminate how the ECB responded to key obstacles such as breaking through the zero lower bound (ZLB) on interest rates and implementing liquidity policies in a deleveraging banking sector.
APA, Harvard, Vancouver, ISO, and other styles
6

Adachi, Hideyuki, and Tamotsu Nakamura. "A Dynamic Analysis of an Economy with a Zero Interest Rate Bound." In Studies in Medium-Run Macroeconomics, 147–66. WORLD SCIENTIFIC, 2015. http://dx.doi.org/10.1142/9789814619585_0006.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Evans, George W., and Seppo Honkapohja. "Learning as a Rational Foundation for Macroeconomics and Finance." In Rethinking Expectations. Princeton University Press, 2013. http://dx.doi.org/10.23943/princeton/9780691155234.003.0003.

Full text
Abstract:
This chapter examines the central ideas about learning and bounded rationality for macroeconomics and finance. It first introduces the main methodological issues concerning expectation formation and learning before discussing the circumstances in which rational expectations may arise. It then reviews empirical work that applies learning to macroeconomic issues and asset prices, along with the implications of the use of structural knowledge in learning and the form of the agents' decision rules. As an application, the scope of Ricardian Equivalence is considered. The chapter also presents three applications of the learning approach to monetary policy: the appropriate specification of interest rate rules; implementation of price-level targeting to achieve learning stability of the optimal rational expectations equilibrium; and whether under learning, commitment to price-level targeting can be sufficient to rule out the deflation trap of a zero interest rate lower bound and return the economy to the intended rational expectations steady state.
APA, Harvard, Vancouver, ISO, and other styles

Reports on the topic "Zero-bound interest rates"

1

McCallum, Bennett. Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates. Cambridge, MA: National Bureau of Economic Research, April 2000. http://dx.doi.org/10.3386/w7677.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Buiter, Willem. Negative Nominal Interest Rates: Three ways to overcome the zero lower bound. Cambridge, MA: National Bureau of Economic Research, June 2009. http://dx.doi.org/10.3386/w15118.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Wright, Jonathan. What does Monetary Policy do to Long-Term Interest Rates at the Zero Lower Bound? Cambridge, MA: National Bureau of Economic Research, June 2011. http://dx.doi.org/10.3386/w17154.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Swanson, Eric, and John Williams. Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates. Cambridge, MA: National Bureau of Economic Research, September 2014. http://dx.doi.org/10.3386/w20486.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Gourinchas, Pierre-Olivier, and Hélène Rey. Real Interest Rates, Imbalances and the Curse of Regional Safe Asset Providers at the Zero Lower Bound. Cambridge, MA: National Bureau of Economic Research, September 2016. http://dx.doi.org/10.3386/w22618.

Full text
APA, Harvard, Vancouver, ISO, and other styles
You might also be interested in the extended bibliographies on the topic 'Zero-bound interest rates' for particular source types:
Journal articles
We offer discounts on all premium plans for authors whose works are included in thematic literature selections. Contact us to get a unique promo code!

To the bibliography