Commentary on Policy at the Zero Lower Bound

Christopher Sims ()

No 1205, Working Papers from Princeton University, Department of Economics, Center for Economic Policy Studies.

Abstract: Several aspects of the difficulties of policy at the zero lower bound are discussed: The difficulty of credible commitment to higher future inflation, as most New Keynesian models imply is necessary; the need for fiscal and monetary policy coordination; the pitfalls in the taking of quasi-fiscal actions by the central bank.

Keywords: central banks; monetary policy; keynesian economics; inflation (search for similar items in EconPapers)
JEL-codes: E02 E42 E50 E60 G21 (search for similar items in EconPapers)
Date: 2010-01
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:pri:cepsud:201

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