A Shadow Policy Rate to Calibrate US Monetary Policy at the Zero Lower Bound

By Marco J. Lombardi, Feng Zhu. 2014

203 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7a118eb912262d498a13e1aa78720737a5b88fe8

How researchers see this paper

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

1. Marco del Negro
2. Domenico Giannone
3. Andrea Tambalotti
4. Georgios P. Georgiadis
5. Marc P. Giannoni
6. James H. Stock
7. Fabio Canova
8. Jushan Bai

Citations in the corpus

• Determinants of Global Spillovers from US Monetary Policy (2015, methodology): “Moreover, I use the shadow federal funds rates of Wu and Xia (2014) as well as Lombardi and Zhu (2014) which are not constrained by the zero lower bound as an alternative measure of US monetary policy.”
• Safety, Liquidity, and the Natural Rate of Interest (2017, background): “Kiley (2015) includes a corporate spread as an exogenous variable in his analysis, because it helps to forecast output.”