Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate

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Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound (2012, methodology): “…We consider two specifications for the natural rate shock: an autoregressive shock of modest size and persistence—as in Adam and Billi (2003, 2006) and Nakov (2008)—that may be viewed as characteristic of the 15In related equivalence results, Benigno and Woodford (2005, 2008) show that the…”
Real Effects of Quantitative Easing at the Zero-Lower Bound: Structural VAR-Based Evidence from Japan (2011, background): “Relative to this class of macromodels, more microfoundation is provided by a growing DSGE literature aiming at a characterization of optimal monetary policy in a situation of zero interest rates including Eggertsson and Woodford (2003), Jung et al. (2005), Eggertsson (2006) and Nakov (2008).”
Using monetary policy to stabilize economic activity (2009, methodology): “6 This is true in forward-looking models under optimal commitment or discretion (Adams and Billi 2006, 2007, Nakov 2008).”
Uncertainty at the zero lower bound (2017, methodology): “1 Electronic copy available at: http://ssrn.com/abstract=2244520”