A shadow rate New Keynesian model

DOI10.1016/J.JEDC.2019.103728MaRDI QIDQ2338520zbMATH OpenOpenAlexFDO

Authors Jing Cynthia Wu, Ji Zhang

Publication date 21 November 2019

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

Full work available at URL http://www.nber.org/papers/w22856.pdf

zbMATH Keywords

lending facilitiesNew Keynesian modelQEshadow rateunconventional monetary policyzero lower bound

Mathematics Subject Classification ID

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

Recommendations

• (Un)conventional policy and the effective lower bound
• Identification at the zero lower bound
• Unconventional monetary policy in a small open economy
• Measuring the stance of monetary policy in zero lower bound environments
• Risk aversion, uncertainty, and monetary policy in zero lower bound environments

Cites work

• Bond risk premia in consumption-based models
• Deviations from rules-based policy and their effects
• Fiscal Policy in an Expectations-Driven Liquidity Trap
• Macroeconomic dynamics near the ZLB: a tale of two countries
• Monetary policy uncertainty and economic fluctuations
• Nonlinear adventures at the zero lower bound

Cited in

(6)

• The effects of monetary policy on stock market bubbles at zero lower bound: revisiting the evidence
• Effects of US quantitative easing on emerging market economies
• Unconventional monetary policy in a small open economy
• UNCERTAINTY AND MONETARY POLICY DURING THE GREAT RECESSION
• Nowcasting the output gap with shadow rates
• Forecasting with shadow rate VARs

Describes a project that uses

Uses Software

• OccBin

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