The Deflation Bias and Committing to Being Irresponsible

By Gauti B. Eggertsson. 2006

192 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/8413bdee4bcab090684d9c51450ba46b084415bc

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In Economics and Econometrics

Citations in the corpus

Real Effects of Quantitative Easing at the Zero-Lower Bound: Structural VAR-Based Evidence from Japan (2011, methodology): “As outlined above, this is in line with a wide range of theoretical models incorporating the ZLB (Coenen and Wieland, 2003; Eggertsson and Woodford, 2003; Eggertsson, 2006).”
Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates (2006, unknown): “Eggertsson (2005) analyzes discretionary policy and the role of nominal debt policy as a way to achieve credibility.”
Quantifying and Sustaining Welfare Gains from Monetary Commitment (2007, unknown): “It contrasts with a transitional deflationary bias highlighted by Krugman (1998), Eggertsson (2006) and Adam and Billi (2006) which arises under discretion because the central bank cannot credibly lower the expected real interest rate, following a negative demand shock, by a promise to raise the…”
Four stories of quantitative easing (2013, background): “First, a central bank can commit to zero interest rates beyond the period that their reaction function would normally call for, what Eggertsson (2006) refers to as “committing to be irresponsible.””
Discretionary monetary policy and the zero lower bound on nominal interest rates (2007, unknown): “Eggertsson (2006) and Jeanne and Svensson (2004) build upon this idea and discuss potential solutions to the credibility problem.”
The Effect of Unconventional Fiscal Policy on Consumption Expenditure (2016, unknown): “7For instance, see Krugman (1998), Eggertsson and Woodford (2003), Eggertsson (2006), Werning (2012), Eggertsson (2011), Christiano, Eichenbaum, and Rebelo (2011), Woodford (2011), and Farhi and Werning (2015).”
Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence (2015, unknown): “We also include the federal funds rate, the civilian unemployment rate and the current inflation rate (percentage year-over-year change in the consumer price index), all three denoted in percentage points.(6) Moreover, we add a rolling 12-months forwardlooking window estimate of inflation volatility”
Escaping the Great Recession (2017, unknown): “As in Krugman (1998), Eggertsson and Woodford (2003), and Christiano, Eichenbaum, and Rebelo (2011), the real interest rate is now too high with respect to what would be desirable.”