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SSRN Electronic Journal, 2010 In this paper we consider a two-country New Open Economy Macroeconomics model, and analyze the optimal monetary policy when countries cooperate in the face of a "global liquidity trap" -- i.e., a situation where the two countries are simultaneously ...
Ippei Fujiwara +3 more
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LIQUIDITY TRAP IN THE UNITED STATES, THE EURO AREA AND JAPAN
Polityki Europejskie, Finanse i Marketing, 2020 When a country falls into a liquidity trap it means that its central bank lacks an effective expansionary monetary policy aimed at increasing consumption and investment demand.
Piotr Misztal
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Confidence in future monetary policy as a way to overcome the liquidity trap [PDF]
Russian Journal of Economics, 2019 The global financial crisis of 2007–2009 has changed the landscape for monetary policy. Many central banks in developed economies had to employ various unconventional policy tools to overcome a liquidity trap.
Olga Kuznetsova +2 more
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New Keynesian Liquidity Trap and Conventional Fiscal Stance: An Estimated DSGE Model
Economics and Business, 2019 The study investigates the effect of New Keynesian liquidity trap on fiscal stance in the United States, United Kingdom and Japan economies. We developed our DSGE model in the context of an optimal and persistent interactive fiscal policy, which allows ...
Shobande Olatunji Abdul +1 more
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Money and Production, and Liquidity Trap [PDF]
International Journal of Economic Theory, 2006 We prove the existence of monetary equilibrium in a finite horizon economy with production. We also show that if agents expect the monetary authority to significantly decrease the supply of bank money available for short‐term loans in the future, then the economy will fall into a liquidity trap today.
John Geanakoplos, Pradeep Dubey
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Policy interaction, expectations and the liquidity trap [PDF]
SSRN Electronic Journal, 2003 In this paper we consider inflation and government debt dynamics when monetary policy employs a global interest rate rule and private agents’ forecasts using adaptive learning. Because of the zero lower bound on interest rates, active interest rate rules
Evans, George W., Honkapohja , Seppo
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Avoiding Liquidity Traps [PDF]
SSRN Electronic Journal, 2000 Once the zero bound on nominal interest rates is taken into account, Taylor-type interest-rate feedback rules give rise to unintended self-fulfilling decelerating inflation paths and aggregate fluctuations driven by arbitrary revisions in expectations ...
Benhabib, J. +2 more
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Revista Teoria e Evidência Econômica, 2020 With high-interest rates being the norm as this is written, Brazil has little reason to be worried about liquidity traps which have recently resurged in international economic literature. Studies intertwining the Brazilian scenario with them have been sparse.
Everton Bisinella +2 more
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Liquidity Trap: the Brazilian version
Brazilian Keynesian Review, 2019 <p>The goal of this paper is to provide an interpretation about the sky-high real interest rates in Brazil. We use Keynes’ argument regarding liquidity trap to identify the forces trapping interest rates, but in Brazil they are trapped at very high levels instead of at the zero-lower bound discussed in Keynes’s <em>General Theory</em>.
Fernando Ferrari Filho, Marcelo Milan
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