Journalartikel

Autorenliste: Tillmann, P

Jahr der Veröffentlichung: 2020

Seiten: 309-321

Zeitschrift: The B.E. Journal of Macroeconomics

Bandnummer: 21

Heftnummer: 1

Open Access Status: Green

DOI Link: https://doi.org/10.1515/bejm-2019-0077

Verlag: De Gruyter

Abstract: 

Central banks face uncertainty about the true location of the effective lower bound (ELB) on nominal interest rates. We model optimal discretionary monetary policy during a liquidity trap when the central bank designs policy that is robust with respect to the location of the ELB. If the central bank fears the worst-case location of the ELB, monetary conditions will be more expansionary in the period before the liquidity trap.

Harvard-Zitierstil: Tillmann, P. (2020) Robust monetary policy under uncertainty about the lower bound, The B.E. Journal of Macroeconomics, 21(1), pp. 309-321. https://doi.org/10.1515/bejm-2019-0077

APA-Zitierstil: Tillmann, P. (2020). Robust monetary policy under uncertainty about the lower bound. The B.E. Journal of Macroeconomics. 21(1), 309-321. https://doi.org/10.1515/bejm-2019-0077