Journal article

Authors list: Tillmann, P

Publication year: 2020

Pages: 309-321

Journal: The B.E. Journal of Macroeconomics

Volume number: 21

Issue number: 1

Open access status: Green

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

Publisher: 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 Citation style: 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 Citation style: 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