The risky steady state and the interest rate lower bound

Sebastian Schmidt, Taisuke Nakata and Timothy Hills

No 1913, Working Paper Series from European Central Bank

Abstract: Even when the policy rate is not at the effective lower bound (ELB), the possibility that the policy rate will become constrained by the ELB in the future lowers today JEL Classification: E32, E52

Keywords: liquidity trap; zero lower bound (search for similar items in EconPapers)
Date: 2016-06
New Economics Papers: this item is included in nep-ger, nep-mac and nep-mon
Note: 2179645
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (71)

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Related works:
Working Paper: The Risky Steady State and the Interest Rate Lower Bound (2016)
Working Paper: The Risky Steady State and the Interest Rate Lower Bound (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20161913

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