Can Monetary Policy Exist in a Zero or Very Low Interest Rate World?

Thomas R Saving

Chapter 17 in A Century of Federal Reserve Monetary Policy:Issues and Implications for the Future, 2019, pp 185-199 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:Introduction30 Plus Years of Declining Interest Rates: Does it Matter?The Possibility of a World with Zero or Negative Interest RatesMeasuring SeigniorageSeigniorage with Zero-Yield AssetsMonetary Policy in the Developed WorldCan Monetary Policy Still Work in a Zero or Negative Interest Rate World?Conclusion

Keywords: Federal Reserve; Monetary Policy; Money; Currency; Interest Rates; Inflation (search for similar items in EconPapers)
JEL-codes: E00 E6 F45 (search for similar items in EconPapers)
Date: 2019
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