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Liquidity traps, capital flows [PDF]
Journal of International Economics, 2018 Abstract Motivated by debates surrounding international capital flows during the Great Recession, we conduct a positive and normative analysis of capital flows when a region of the global economy experiences a liquidity trap. Capital flows reduce inefficient output fluctuations in this region by inducing exchange rate movements that reallocate ...
Acharya, Sushant, Bengui, Julien
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Determinate liquidity traps [PDF]
Economics Letters, 2015 I study the long run determinacy tradeoff - recurrent episodes of passive monetary policy are (in)determinate if their expected duration is long (brief ) - when passive pol- icy is at the zero bound. On-going regime change implies qualitatively different shock transmission from the standard New Keynesian model. For U.S.
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Does the Liquidity Trap Exist?
Social Science Research Network, 2020 The liquidity trap is synonymous with ineffective monetary policy. The common wisdom is that, as the short-term interest rate nears its effective lower bound, monetary policy cannot do much to stimulate the economy.
Stéphane Lhuissier +2 more
semanticscholar +1 more source
Bond Premium Cyclicality and Liquidity Traps [PDF]
SSRN Electronic Journal, 2020 Abstract Safe asset shortages can expose an economy to liquidity traps. The nature of these traps is determined by the cyclicality of the bond premium. A counter-cyclical bond premium opens the possibility of expectations-driven liquidity traps in which small issuances of government debt crowd out private debt and reduce output.
Caramp, Nicolas, Singh, Sanjay R
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The Effect of Gesell Tax on Liquidity Trap: New Keynesian Approach [PDF]
فصلنامه پژوهشهای اقتصادی ایران, 2013 In the present system of capitalism, the money and interest rate have a special place in macroeconomics and play a major role in conducting monetary policies and determining economic activities level. Classical school believe that interest rate is a real
Ensieh Mosaddeghi +2 more
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Monetary policy at the zero lower bound. Geldpolitik an der Null-Zins-Grenze
Eesti Majanduspoliitilised Väitlused, 2015 Both interest rates and inflation rates in the Euro area have reached levels dangerously close to zero. By the strategy of quantitative easing the ECB has been providing ample liquidity – yet without lasting success.
Karen Cabos
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Liquidity Traps with Global Taylor Rules [PDF]
SSRN Electronic Journal, 2000 An important theme in the writings of Jess Benhabib is the global stability of equilibrium in monetary economies. A key result emerging from his research is that Taylor‐type interest rate feedback rules that are bounded below by zero can lead to unintended liquidity traps. The present paper shows that even if the interest rate rule is not bounded below
Stephanie Schmitt-Grohe, Martin Uribe
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Liquidity traps in a world economy [PDF]
Journal of Economic Dynamics and Control, 2021 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Modeling Financial System with Interbank Flows, Borrowing, and Investing
Risks, 2018 In our model, private actors with interbank cash flows similar to, but more general than that by Carmona et al. (2013) borrow from the non-banking financial sector at a certain interest rate, controlled by the central bank, and invest in risky assets ...
Aditya Maheshwari, Andrey Sarantsev
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The Costs of Macroprudential Deleveraging in a Liquidity Trap
IMF Working Papers, 2020 We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low.
Jiaqian Chen +3 more
semanticscholar +1 more source