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- W1565914214 abstract "Although the concept of monetary policy lag has historical roots deep in the monetary economics literature, relatively little attention has been paid to the idea. In this paper, we build on Svensson's (1997) inflation targeting framework by explicitly taking into account the lagged effect of monetary policy and characterize the optimal monetary policy reaction function both in the absence and in the presence of the zero lower bound on the nominal interest rate." @default.
- W1565914214 created "2016-06-24" @default.
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- W1565914214 date "2009-01-01" @default.
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- W1565914214 title "Monetary policy lag, zero lower bound, and inflation targeting" @default.
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