Time Consistency and Duration of Government Debt: A Model of Quantitative Easing

DOI10.1093/RESTUD/RDAC063MaRDI QIDQ6136987zbMATH OpenOpenAlexFDO

Authors Saroj Bhattarai, Gauti B. Eggertsson, Bulat Gafarov

Publication date 31 August 2023

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1093/restud/rdac063

zbMATH Keywords

quantitative easingsignallingzero lower boundtime-consistent equilibriumgovernment debt maturity

Mathematics Subject Classification ID

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

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(11)

• When is government debt accumulation optimal in a liquidity trap?
• Exiting from quantitative easing
• A continuous-time model of sovereign debt
• Scarce collateral, the term premium, and quantitative easing
• Exiting from quantitative easing in an era of large government debt: inflation or default?
• The financial market effects of unwinding the Federal Reserve's balance sheet
• Monetary policy at the zero lower bound and after: a reassessment of quantitative easing and critique of the Federal Reserve's proposed exit strategy
• Default and determinacy under quantitative easing
• The macroeconomic effects of quantitative easing in the euro area: evidence from an estimated DSGE model
• The impact of quantitative easing on the US term structure of interest rates
• Analyzing linear DSGE models: the method of undetermined Markov states

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