The Risk of Returning to the Effective Lower Bound: An Implication for Inflation Dynamics After Lift-Off

Timothy S. Hills, Taisuke Nakata and Sebastian Schmidt

No 2016-02-12-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: In this note, we analyze an implication of the effective lower bound (ELB) risk--the possibility that adverse shocks will force policymakers in the future to lower the policy rate to the ELB--on inflation dynamics after liftoff.

Date: 2016-02-12
New Economics Papers: this item is included in nep-cba and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2016-02-12-2

DOI: 10.17016/2380-7172.1690

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