The optimal monetary policy rule under the non-negativity constraint on nominal interest rates

DOI10.1016/J.ECONLET.2005.05.016zbMATH Open1254.91511OpenAlexW2034006377MaRDI QIDQ1928664FDOQ1928664

Authors: Tomohiro Sugo, Yuki Teranishi 

Publication date: 3 January 2013

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2005.05.016

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zbMATH Keywords

non-negativity constraint on nominal interest ratesoptimal monetary policy rule

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62)

Cites Work

• The optimal monetary policy rule under the non-negativity constraint on nominal interest rates

Cited In (13)

• Optimal monetary policy when interest rates are bounded at zero
• On the optimality of the Friedman rule in a New Monetarist model
• The optimal monetary policy rule under the non-negativity constraint on nominal interest rates
• Can (and should) monetary policy pursue a zero real interest rate, permanently?
• Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate
• The Role of Monetary Policy in Eliminating Nonconvergent Dynamic Paths
• Lumpy durable consumption demand and the limited ammunition of monetary policy
• Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment
• Should the ECB adjust its strategy in the face of a lower \(r^\star\)?
• Optimal random monetary policy with nominal rigidity.
• Optimal Monetary Policy for Commercial Banks Involving Lending Rate Settings and Default Rates
• A reconsideration of money growth rules
• The perverse response of interest rates

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