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Econometrica, 1976
If the liquidity trap is viewed as a property of the aggregate demand for money (or liquid assets), it can be generated from the agents' microeconomic behavior only in special cases, even in the presence of the Keynesian assumption of inelastic expectations.
Grandmont, Jean-Michel, Laroque, Guy
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If the liquidity trap is viewed as a property of the aggregate demand for money (or liquid assets), it can be generated from the agents' microeconomic behavior only in special cases, even in the presence of the Keynesian assumption of inelastic expectations.
Grandmont, Jean-Michel, Laroque, Guy
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Optimal monetary policy in a liquidity trap: Evaluations for Japan’s monetary policy
Journal of the Japanese and international economies (Print)This paper shows that the Bank of Japan’s monetary policy shares several common points with optimal monetary policy in a liquidity trap to large negative shocks by the recent pandemic.
Kohei Hasui, Yuki Teranishi
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Liquidity trap, private behavior preference, and the micro-foundation of fiscal multiplier dynamics
Macroeconomic DynamicsWe incorporate the liquidity trap and private behavioral preferences into a New Keynesian dynamic stochastic general equilibrium model to analyze fiscal multipliers. The results indicate that the influence of the liquidity trap on fiscal policy is driven
Chuanglian Chen +3 more
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Quantitative easing impotence in the liquidity trap: Further evidence
, 2020Quantitative easing (QE) ineffectiveness in periods of liquidity trap conditions has been empirically verified for Japan, USA, and the Eurozone, on the basis of a switching regimes approach.
Dimitris G. Kirikos
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SSRN Electronic Journal, 2016
Japan has experienced stagnation, deflation, and low interest rates for decades. It is caught in a liquidity trap. This paper examines Japan's liquidity trap in light of the structure and performance of the country's economy since the onset of stagnation. It also analyzes the country's liquidity trap in terms of the different strands in the theoretical
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Japan has experienced stagnation, deflation, and low interest rates for decades. It is caught in a liquidity trap. This paper examines Japan's liquidity trap in light of the structure and performance of the country's economy since the onset of stagnation. It also analyzes the country's liquidity trap in terms of the different strands in the theoretical
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Testing and mechanism identification of liquidity trap in China
Applied Economics LettersThis paper examines the existence and mechanism of China’s liquidity trap. First, a broad money supply model is reconstructed to evaluate the effectiveness of monetary policy.
Kaifeng Duan, ChuanZhen Zheng, Yuan Shan
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Optimal Monetary and Transfer Policy in a Liquidity Trap
Journal of Money, Credit and BankingOptimal monetary and fiscal policy are jointly analyzed in a heterogeneous two‐agent New Keynesian environment, where fiscal policy is modeled as lump‐sum transfers.
Stefano Maria Corbellini
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China’s Macroeconomic Policy and Prevention of Liquidity Trap under Epidemic Situation
Finance, 2020Although the theory of “liquidity trap” has certain historical limitations and conditional limitations, its economic significance cannot be ignored, that is, “liquidity trap” means economic crisis or great depression; in the case of falling into ...
东乾 魏
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Liquid–Liquid Encapsulation: Penetration vs. Trapping at a Liquid Interfacial Layer
ACS Applied Materials & Interfaces, 2023Encapsulation protects vulnerable cores in an aggressive environment and imparts desirable functionalities to the overall encapsulated cargo, including control of mechanical properties, release kinetics, and targeted delivery. Liquid-liquid encapsulation to create such capsules, where a liquid layer (shell) is used to wrap another liquid (core), is an ...
Sirshendu Misra +2 more
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Review of Keynesian Economics, 2019
This article discusses ‘unconventional’ monetary policy after the 2008 crisis. The focus is the original theoretical basis for such policy and possible Keynesian readings and criticisms.
Olivia Bullio Mattos +3 more
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This article discusses ‘unconventional’ monetary policy after the 2008 crisis. The focus is the original theoretical basis for such policy and possible Keynesian readings and criticisms.
Olivia Bullio Mattos +3 more
semanticscholar +1 more source