The methodology for assessing interest-rate policy rules: a reply

John Smithin
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John Smithin: Economics and Senior Scholar, York University, Toronto, ON, Canada

European Journal of Economics and Economic Policies: Intervention, 2021, vol. 18, issue 3, 286–292

Abstract: This note is a brief reply to , who has been critical of the conceptual foundations and methodology in a discussion of the impact of different interest rate policy rules on inflation in . The reply concludes that the case for a ‘zero real policy rate of interest’ (ZRPR), rather than a ‘zero interest rate policy’ (ZIRP), emerges unscathed.

Keywords: ZRPR; ZIRP; real interest rate rules; inflation instability; income distribution (search for similar items in EconPapers)
JEL-codes: B22 E43 E52 E58 (search for similar items in EconPapers)
Date: 2021
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