Matches in SemOpenAlex for { <https://semopenalex.org/work/W2103760123> ?p ?o ?g. }
Showing items 1 to 95 of
95
with 100 items per page.
- W2103760123 abstract "Ignoring the existence of the zero lower bound on nominal interest rates one considerably understates the value of monetary commitment in New Keynesian models. A stochastic forward-looking model with an occasionally binding lower bound, calibrated to the U.S. economy, suggests that low values for the natural rate of interest lead to sizeable output losses and deflation under discretionary monetary policy. The fall in output and deflation are much larger than in the case with policy commitment and do not show up at all if the model abstracts from the existence of the lower bound. The welfare losses of discretionary policy increase even further when inflation is partly determined by lagged inflation in the Phillips curve. These results emerge because private sector expectations and the discretionary policy response to these expectations reinforce each other and cause the lower bound to be reached much earlier than under commitment." @default.
- W2103760123 created "2016-06-24" @default.
- W2103760123 creator A5022030176 @default.
- W2103760123 creator A5063757387 @default.
- W2103760123 date "2005-01-01" @default.
- W2103760123 modified "2023-09-24" @default.
- W2103760123 title "Discretionary Monetary Policy and the Zero Lower Bound on Nominal Interest Rates" @default.
- W2103760123 cites W1542118577 @default.
- W2103760123 cites W1734608797 @default.
- W2103760123 cites W1971617408 @default.
- W2103760123 cites W2005679363 @default.
- W2103760123 cites W2057366755 @default.
- W2103760123 cites W2061044658 @default.
- W2103760123 cites W2109587070 @default.
- W2103760123 cites W2129524834 @default.
- W2103760123 cites W2142397873 @default.
- W2103760123 cites W2146272901 @default.
- W2103760123 cites W2147644661 @default.
- W2103760123 cites W2169417293 @default.
- W2103760123 cites W2189139855 @default.
- W2103760123 cites W2890529392 @default.
- W2103760123 cites W3022679768 @default.
- W2103760123 cites W3122024070 @default.
- W2103760123 cites W3122618430 @default.
- W2103760123 cites W3122674542 @default.
- W2103760123 cites W3123579556 @default.
- W2103760123 cites W3123598336 @default.
- W2103760123 cites W3123935426 @default.
- W2103760123 cites W3123949599 @default.
- W2103760123 cites W3124272832 @default.
- W2103760123 cites W3124291802 @default.
- W2103760123 cites W3139712855 @default.
- W2103760123 cites W1995278743 @default.
- W2103760123 doi "https://doi.org/10.2139/ssrn.876813" @default.
- W2103760123 hasPublicationYear "2005" @default.
- W2103760123 type Work @default.
- W2103760123 sameAs 2103760123 @default.
- W2103760123 citedByCount "11" @default.
- W2103760123 countsByYear W21037601232012 @default.
- W2103760123 countsByYear W21037601232013 @default.
- W2103760123 countsByYear W21037601232014 @default.
- W2103760123 countsByYear W21037601232015 @default.
- W2103760123 countsByYear W21037601232016 @default.
- W2103760123 crossrefType "journal-article" @default.
- W2103760123 hasAuthorship W2103760123A5022030176 @default.
- W2103760123 hasAuthorship W2103760123A5063757387 @default.
- W2103760123 hasBestOaLocation W21037601232 @default.
- W2103760123 hasConcept C113679137 @default.
- W2103760123 hasConcept C126285488 @default.
- W2103760123 hasConcept C136236421 @default.
- W2103760123 hasConcept C138885662 @default.
- W2103760123 hasConcept C149782125 @default.
- W2103760123 hasConcept C154815372 @default.
- W2103760123 hasConcept C162324750 @default.
- W2103760123 hasConcept C165556158 @default.
- W2103760123 hasConcept C175025494 @default.
- W2103760123 hasConcept C2778078003 @default.
- W2103760123 hasConcept C2780813799 @default.
- W2103760123 hasConcept C41895202 @default.
- W2103760123 hasConcept C556758197 @default.
- W2103760123 hasConcept C84888623 @default.
- W2103760123 hasConceptScore W2103760123C113679137 @default.
- W2103760123 hasConceptScore W2103760123C126285488 @default.
- W2103760123 hasConceptScore W2103760123C136236421 @default.
- W2103760123 hasConceptScore W2103760123C138885662 @default.
- W2103760123 hasConceptScore W2103760123C149782125 @default.
- W2103760123 hasConceptScore W2103760123C154815372 @default.
- W2103760123 hasConceptScore W2103760123C162324750 @default.
- W2103760123 hasConceptScore W2103760123C165556158 @default.
- W2103760123 hasConceptScore W2103760123C175025494 @default.
- W2103760123 hasConceptScore W2103760123C2778078003 @default.
- W2103760123 hasConceptScore W2103760123C2780813799 @default.
- W2103760123 hasConceptScore W2103760123C41895202 @default.
- W2103760123 hasConceptScore W2103760123C556758197 @default.
- W2103760123 hasConceptScore W2103760123C84888623 @default.
- W2103760123 hasLocation W21037601231 @default.
- W2103760123 hasLocation W21037601232 @default.
- W2103760123 hasLocation W21037601233 @default.
- W2103760123 hasLocation W21037601234 @default.
- W2103760123 hasOpenAccess W2103760123 @default.
- W2103760123 hasPrimaryLocation W21037601231 @default.
- W2103760123 hasRelatedWork W1587075398 @default.
- W2103760123 hasRelatedWork W2152103256 @default.
- W2103760123 hasRelatedWork W2299814330 @default.
- W2103760123 hasRelatedWork W2527999442 @default.
- W2103760123 hasRelatedWork W2906657158 @default.
- W2103760123 hasRelatedWork W2908268513 @default.
- W2103760123 hasRelatedWork W3023111133 @default.
- W2103760123 hasRelatedWork W3041835077 @default.
- W2103760123 hasRelatedWork W3135188281 @default.
- W2103760123 hasRelatedWork W3140925659 @default.
- W2103760123 isParatext "false" @default.
- W2103760123 isRetracted "false" @default.
- W2103760123 magId "2103760123" @default.
- W2103760123 workType "article" @default.