Debt-deflation versus the liquidity trap: the dilemma of nonconventional monetary policy

DOI10.1007/S00199-015-0914-7MaRDI QIDQ325685zbMATH OpenOpenAlexFDO

Authors Gaël Giraud, Antonin Pottier

Publication date 11 October 2016

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-015-0914-7

zbMATH Keywords

central bankcollateraldebt-deflationdefaultliquidity trapquantitative easing

Mathematics Subject Classification ID

General equilibrium theory (91B50) Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cites work

• An introduction to general equilibrium with incomplete asset markets
• Arbitrage and equilibrium with portfolio constraints
• Collateral equilibrium. I: A basic framework
• Competitive Pooling: Rothschild-Stiglitz Reconsidered
• Debt Constrained Asset Markets
• Debt-deflation versus the liquidity trap: the dilemma of nonconventional monetary policy
• Determinacy with nominal assets and outside money
• Efficiency and imperfect competition with incomplete markets.
• Equilibrium in incomplete markets. I: A basic model of generic existence
• Inside and outside fiat money, gains to trade, and IS-LM
• Monetary equilibrium with missing markets.
• Monetary policy and price level determinacy in a cash-in-advance economy
• On default and uniqueness of monetary equilibria
• On the optimality of equilibrium when the market structure is incomplete
• Strategic market games: an introduction.
• The Inefficiency of the Stock Market Equilibrium

Cited in

(8)

• A theory of the non-neutrality of money with banking frictions and bank recapitalization
• Debt stabilisation and dynamic interaction between monetary and fiscal policy: in medio stat virtus
• Debt-deflation versus the liquidity trap: the dilemma of nonconventional monetary policy
• Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*
• LIQUIDITY, MONETARY POLICY, AND UNEMPLOYMENT: A NEW MONETARIST APPROACH
• INSIDE MONEY, INVESTMENT, AND UNCONVENTIONAL MONETARY POLICY
• Deflationary traps, agents' beliefs and fiscal-monetary policies
• Deficit, monetization, and economic growth: a case for multiplicity and indeterminacy

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