Liquidity traps in a world economy

DOI10.1016/J.JEDC.2021.104206MaRDI QIDQ2054802zbMATH OpenOpenAlexFDO

Authors Robert Kollmann

Publication date 3 December 2021

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

Full work available at URL https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2021-01/5_2021_kollmann_0.pdf

zbMATH Keywords

domestic and international shock transmissionexchange rateexpectations-driven and fundamentals-driven liquidity trapsnet exportsterms of tradezero lower bound

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Recommendations

• Liquidity traps and expectation dynamics: fiscal stimulus or fiscal austerity?
• Managing unanchored, heterogeneous expectations and liquidity traps
• Expectation traps in a New Keynesian open economy model
• Fiscal policy and liquidity traps with heterogeneous agents
• Liquidity trap and stability of Taylor rules

Cites work

• Computing sunspot equilibria in linear rational expectations models
• Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*
• Fiscal Policy in an Expectations-Driven Liquidity Trap
• Learning to live in a liquidity trap
• Macroeconomic dynamics near the ZLB: a tale of two countries
• Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment
• Monetary policy strategies for the European Central Bank
• Monetary policy switching and indeterminacy
• Should the ECB adjust its strategy in the face of a lower \(r^\star\)?
• Solving and estimating indeterminate DSGE models
• Stagnation traps
• The fiscal multiplier and spillover in a global liquidity trap
• The forward method as a solution refinement in rational expectations models
• The General Theory of Employment, Interest, and Money
• The perils of Taylor rules
• Time-varying rational expectations models

Cited in

(17)

• Is the Japanese economy in a liquidity trap?
• Liquidity traps and large-scale financial crises
• Learning to live in a liquidity trap
• Determinate liquidity traps
• Protectionism in a liquidity trap
• Managing unanchored, heterogeneous expectations and liquidity traps
• Fiscal policy and liquidity traps with heterogeneous agents
• The fiscal multiplier and spillover in a global liquidity trap
• Liquidity traps and expectation dynamics: fiscal stimulus or fiscal austerity?
• Zero nominal interest rates, unemployment, excess reserves and deflation in a liquidity trap
• Macroeconomic dynamics near the ZLB: a tale of two countries
• The safety trap
• Global imbalances and policy wars at the zero lower bound
• The Unavoidability of Low Inflation–Low Output Traps
• Expectation traps in a New Keynesian open economy model
• Bond premium cyclicality and liquidity traps
• Deflationary traps, agents' beliefs and fiscal-monetary policies

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