Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate

DOI10.1016/J.JEDC.2014.05.010MaRDI QIDQ1994589zbMATH OpenOpenAlexFDO

Authors Phuong V. Ngo

Publication date 1 November 2018

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2014.05.010

zbMATH Keywords

nonlinear methodcalvo price adjustmentsdistorted steady stateoptimal discretionary monetary policyoptimal inflation rateZLB

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Dynamic stochastic general equilibrium theory (91B51) Interest rates, asset pricing, etc. (stochastic models) (91G30)

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Cites work

• scientific article; zbMATH DE number 1873658 (Why is no real title available?)
• Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*
• Evaluating the sample likelihood of linearized DSGE models without the use of the Kalman filter
• On the estimation of returns to scale, technical progress and monopolistic markups
• Optimal fiscal and monetary policy with occasionally binding zero bound constraints
• Solving the multi-country real business cycle model using ergodic set methods
• The optimal inflation rate in New Keynesian models: should central banks raise their inflation targets in light of the zero lower bound?
• Using a projection method to analyze inflation bias in a micro-founded model

Cited in

(6)

• Optimal monetary policy when interest rates are bounded at zero
• Multiplicity in New Keynesian models
• Optimal fiscal and monetary policy with occasionally binding zero bound constraints
• The optimal monetary policy rule under the non-negativity constraint on nominal interest rates
• The inflation bias under Calvo and Rotemberg pricing
• Discretionary monetary policy in the Calvo model

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Uses Software

• CompEcon

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