The effective lower bound and the desirability of gradual interest rate adjustments

Sebastian Schmidt

Research Bulletin, 2018, vol. 45

Abstract: The lower bound on nominal interest rates makes it desirable for monetary policy to aim for gradual adjustments of the policy rate in addition to the stabilisation of inflation and the output gap. JEL Classification: E52, E61

Keywords: Effective Lower Bound; Gradualism; Liquidity Traps; Monetary Policy (search for similar items in EconPapers)
Date: 2018-04
Note: 2179645
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