The Zero-Interest-Rate Bound and Optimal Monetary Policy in a Small Open Economy

By Taehun Jung. 2004

126 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/05e9455abc2e59550ce6c06dc2716de65c65d978

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

Citations in the corpus

Jump-Starting the Euro-Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery? (2015, unknown): “Following Eggertsson and Woodford (2003), the subutility function over real balances, F ( MBt+j+1(h) Pt+j ) , is assumed to have a satiation point for MB/P .”
Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates (2014, unknown): “Empirically, G¨urkaynak, Sack, and Swanson (2005b) found that the eﬀects of Federal Reserve policy announcements on asset prices are driven primarily by the Federal Open Market Committee (FOMC) statement’s eﬀects on ﬁnancial market expectations of future monetary policy, rather than changes in the…”
Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates (2006, unknown): “…steady output to be efficient, e.g., thanks to the existence of an output subsidy that neutralizes the distortions from monopolistic competition, and the output gap to be defined as the difference between the actual output level and the efficient level, see chapter 6 of Woodford (2003) for details.”
The Financial Cycle and Macroeconomics: What Have We Learnt? (2014, unknown): “2 See also Eichengreen and Mitchener (2004), who find that credit and asset price booms exacerbated the Great Depression, using similar indicators as in Borio and Lowe (2002).”
Sovereign Risk, Fiscal Policy, and Macroeconomic Stability (2013, background): “For example, a central bank faced with the ZLB could promise low future real rates to help the economy ease out of the lower-bound situation; see Eggertsson and Woodford (2003).”
Quantifying and Sustaining Welfare Gains from Monetary Commitment (2007, unknown): “A number of papers have studied optimal commitment policy with this constraint (for example, Coenen and Wieland (2003), Eggertsson and Woodford (2003), Woodford (2003), chapter 6).”
Inflation and Output in New Keynesian Models with a Transient Interest Rate Peg (2012, unknown): “This is motivated by the influential papers of [6] and [5] that assume Markov process for the shocks that drive the economy to the zero lower bound.”
Credit Crises, Precautionary Savings, and the Liquidity Trap (2011, background): “Two independent recent papers, Curdia and Woodford (2010) and Eggertsson and Krugman (2011), draw related connections between credit crises and the liquidity trap.”
A model of unconventional monetary policy (2011, unknown): “We can express Vjt as follows: Vjt = vt ·QtSjt + ηtNjt (10)”