Optimal monetary policy when interest rates are bounded at zero

DOI10.1016/J.JEDC.2003.08.006zbMATH Open1202.91225OpenAlexW2001781631MaRDI QIDQ953738FDOQ953738

Authors Ryo Kato, Shin-Ichi Nishiyama

Publication date 6 November 2008

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.2003.08.006

zbMATH Keywords

deflationliquidity trappre-emptive monetary policyzero bound

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Statistical methods; economic indices and measures (91B82)

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Cites work

• scientific article; zbMATH DE number 52448 (Why is no real title available?)
• scientific article; zbMATH DE number 1873658 (Why is no real title available?)
• Algorithms and economic dynamics. Selected papers from the 2nd annual meeting of the Society for Computational Economics, Geneva, Switzerland, 1996
• On constrained infinite-time linear quadratic optimal control
• On the Concavity of the Consumption Function
• Proportional Projections in Limited Dependent Variable Models

Cited in

(19)

• Measuring the stance of monetary policy in zero lower bound environments
• Optimal monetary policy and long-term interest rate dynamics: Taylor rule extensions
• Banks, money, and the zero lower bound on deposit rates
• Optimal Monetary Policy
• Macroeconomic dynamics near the ZLB: a tale of two countries
• Exchange rate policies at the zero lower bound
• Stabilization policy at the zero lower bound
• 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
• Optimal Monetary Policy for Commercial Banks Involving Lending Rate Settings and Default Rates
• Nonlinear adventures at the zero lower bound
• A reconsideration of money growth rules
• Identification at the zero lower bound
• Transition from the Taylor rule to the zero lower bound
• (Un)conventional policy and the effective lower bound
• Long-term interest rates, risk premia and unconventional monetary policy
• Can (and should) monetary policy pursue a zero real interest rate, permanently?
• The fiscal multiplier and spillover in a global liquidity trap
• Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate

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Uses Software

• CompEcon

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