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

DOI10.1016/J.JEDC.2014.05.010zbMATH Open1402.91487OpenAlexW1966559180MaRDI QIDQ1994589FDOQ1994589

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

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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)

Cites Work

• On the estimation of returns to scale, technical progress and monopolistic markups
• Title not available (Why is that?)
• Evaluating the sample likelihood of linearized DSGE models without the use of the Kalman filter
• Using a projection method to analyze inflation bias in a micro-founded model
• Solving the multi-country real business cycle model using ergodic set methods
• Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*
• The optimal inflation rate in New Keynesian models: should central banks raise their inflation targets in light of the zero lower bound?
• Optimal fiscal and monetary policy with occasionally binding zero bound constraints

Cited In (6)

• Optimal monetary policy when interest rates are bounded at zero
• 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
• Discretionary monetary policy in the Calvo model
• The inflation bias under Calvo and Rotemberg pricing
• Multiplicity in New Keynesian models

Uses Software

• CompEcon

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