UID:
edoccha_9958094092402883
Format:
1 online resource (180 p.)
Edition:
1st ed.
ISBN:
3-8366-1490-1
Content:
Central banks around the world try to influence economic activity by altering nominal interest rates which will have an effect on the real rate. However, this is only possible as long as interest rates are above zero. The case of Japan showed that monetary policy was helpless as nominal rates approached zero. This Book starts with an overview of monetary policy with the restriction that interest rates can not fall below zero. Then optimal monetary policy in a low inflation environment is treated. This is done by using a New Keynesian model with sticky prices. Therefore the model and the necess
Note:
Title from cover.
,
Zero Lower Bound andMonetary Policy in the Euro AreaOptimal Monetary Policy in aLow Inflation Environment; Table of contents; 1. Introduction; 2. Literature; 3. The Model; 4. Modelling the euro area economy; 5. How severe is the zero bound in the euro area?; 6. Discussion; 7. Conclusions; Appendix; Literature
,
English
Additional Edition:
ISBN 3-8366-6490-9
Language:
English
