Understanding benign liquidity traps: The case of Japan [PDF]
, 2015 Japan has been in a benign liquidity trap since 1990. In a benign liquidity trap, interest rates approach zero, prices decline, and monetary policy is ineffective but output and employment perform decently.
Homburg, Stefan
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Sharing the burden: monetary and fiscal responses to a world liquidity trap [PDF]
With integrated trade and financial markets, a collapse in aggregate demand in a large country can cause "natural real interest rates" to fall below zero in all countries, giving rise to a global "liquidity trap." This paper explores the optimal policy ...
David Cook, Michael B. Devereux
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Zero Nominal Interest Rates, Unemployment, Excess Reserves and Deflation in a Liquidity Trap [PDF]
We present a dynamic and monetary model that consistently explains such various phenomena as unemployment, deflation, zero nominal interest rates and excess reserves held by commercial banks.
Ryu-ichiro Murota, Yoshiyasu Ono
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Monetary policy in the liquidity trap and after: A reassessment of quantitative easing and critique of the Federal Reserve's proposed exit strategy [PDF]
, 2013 This paper provides a novel analysis of quantitative easing (QE) that focuses on its implicit fiscal dimension. The first segment examines the theory of the liquidity trap and introduces a distinction between a "weak" and "strong" liquidity trap.
Palley, Thomas I.
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Global Liquidity Trap: A Simple Analytical Investigation [PDF]
How should monetary policy cooperation be designed when more than one country simultaneously faces zero lower bounds on nominal interest rates? To answer this question, we examine monetary policy cooperation with both optimal discretion and commitment ...
Ippei Fujiwara, Nao Sudo, Yuki Teranishi
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Optimal Monetary Policy in a Liquidity Trap [PDF]
We consider the consequences for monetary policy of the zero floor for nominal interest rates. The zero bound can be a significant constraint on the ability of a central bank to combat deflation.
Gauti B. Eggertsson, Michael Woodford
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Optoelectrical Properties of Hexamine Doped-Methylammonium Lead Iodide Perovskite under Different Grain-Shape Crystallinity. [PDF]
Nanomaterials (Basel), 2023 Ali Umar MI +9 more
europepmc +1 more source
Falling into the Liquidity Trap: Notes on the Global Economic Crisis [PDF]
This paper examines the underlying structural imbalances leading up to the Great Recession of 2007-2009 from the vantage point of Hyman Minsky’s theory of the liquidity trap.
Thomas R. Michl
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The zero-interest-rate and the role of the exchange rate for monetary policy in Japan [PDF]
, 2003 In this paper we study the role of the exchange rate in conducting monetary policy in an economy with near-zero nominal interest rates as experienced in Japan since the mid-1990s.
Coenen, Günter, Wieland, Volker
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Helicopter Drops and Japanfs Liquidity Trap [PDF]
This paper examines the effects of a money-financed fiscal expansion? a helicopter drop?when an economy is in a liquidity trap. It uses a textbook-style model calibrated to fit Japanfs economic slump and deflation as of 2003.
Laurence Ball
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