Matches in SemOpenAlex for { <https://semopenalex.org/work/W3126023734> ?p ?o ?g. }
Showing items 1 to 75 of
75
with 100 items per page.
- W3126023734 abstract "We study the possibility of (almost) self-fulfilling waves of pessimism and selfreinforcing liquidity traps in a New Keynesian model with heterogeneous expectations. We explicitly focus on the of expectations that is modeled as the range of deviations from the central bank targets (and from the rational expectation equilibrium) that agents are willing to consider. We find that when the zero lower bound on the nominal interest rate is not binding, aggressive monetary policy can prevent waves of pessimism and exclude near unit root dynamics, even when expectations are unanchored. However, as shocks bring the economy to a situation with a binding zero lower bound, there is a danger of a long lasting self-reinforcing liquidity trap that arises because of the existence of multiple steady states. It turns out that in a model where the anchoring of expectations evolves endogenously, the anchoring of expectations at the time the bad shocks hit is crucial in determining whether the economy can recover from the liquidity trap. Furthermore, a higher inflation target reduces the probability that self-reinforcing liquidity traps arise." @default.
- W3126023734 created "2021-02-01" @default.
- W3126023734 creator A5025492327 @default.
- W3126023734 creator A5065911565 @default.
- W3126023734 date "2017-01-01" @default.
- W3126023734 modified "2023-09-27" @default.
- W3126023734 title "Managing unanchored, heterogeneous expectations and liquidity traps" @default.
- W3126023734 hasPublicationYear "2017" @default.
- W3126023734 type Work @default.
- W3126023734 sameAs 3126023734 @default.
- W3126023734 citedByCount "0" @default.
- W3126023734 crossrefType "posted-content" @default.
- W3126023734 hasAuthorship W3126023734A5025492327 @default.
- W3126023734 hasAuthorship W3126023734A5065911565 @default.
- W3126023734 hasConcept C10688316 @default.
- W3126023734 hasConcept C111472728 @default.
- W3126023734 hasConcept C121332964 @default.
- W3126023734 hasConcept C126285488 @default.
- W3126023734 hasConcept C138885662 @default.
- W3126023734 hasConcept C162324750 @default.
- W3126023734 hasConcept C165556158 @default.
- W3126023734 hasConcept C175025494 @default.
- W3126023734 hasConcept C183582576 @default.
- W3126023734 hasConcept C189259953 @default.
- W3126023734 hasConcept C200941418 @default.
- W3126023734 hasConcept C2778078003 @default.
- W3126023734 hasConcept C33332235 @default.
- W3126023734 hasConcept C556758197 @default.
- W3126023734 hasConcept C8573378 @default.
- W3126023734 hasConcept C96016098 @default.
- W3126023734 hasConcept C9992130 @default.
- W3126023734 hasConceptScore W3126023734C10688316 @default.
- W3126023734 hasConceptScore W3126023734C111472728 @default.
- W3126023734 hasConceptScore W3126023734C121332964 @default.
- W3126023734 hasConceptScore W3126023734C126285488 @default.
- W3126023734 hasConceptScore W3126023734C138885662 @default.
- W3126023734 hasConceptScore W3126023734C162324750 @default.
- W3126023734 hasConceptScore W3126023734C165556158 @default.
- W3126023734 hasConceptScore W3126023734C175025494 @default.
- W3126023734 hasConceptScore W3126023734C183582576 @default.
- W3126023734 hasConceptScore W3126023734C189259953 @default.
- W3126023734 hasConceptScore W3126023734C200941418 @default.
- W3126023734 hasConceptScore W3126023734C2778078003 @default.
- W3126023734 hasConceptScore W3126023734C33332235 @default.
- W3126023734 hasConceptScore W3126023734C556758197 @default.
- W3126023734 hasConceptScore W3126023734C8573378 @default.
- W3126023734 hasConceptScore W3126023734C96016098 @default.
- W3126023734 hasConceptScore W3126023734C9992130 @default.
- W3126023734 hasLocation W31260237341 @default.
- W3126023734 hasOpenAccess W3126023734 @default.
- W3126023734 hasPrimaryLocation W31260237341 @default.
- W3126023734 hasRelatedWork W1511008827 @default.
- W3126023734 hasRelatedWork W1566984796 @default.
- W3126023734 hasRelatedWork W1880478602 @default.
- W3126023734 hasRelatedWork W2205347482 @default.
- W3126023734 hasRelatedWork W2217027917 @default.
- W3126023734 hasRelatedWork W2470409259 @default.
- W3126023734 hasRelatedWork W2523933653 @default.
- W3126023734 hasRelatedWork W2745479115 @default.
- W3126023734 hasRelatedWork W2792708746 @default.
- W3126023734 hasRelatedWork W2909225466 @default.
- W3126023734 hasRelatedWork W297373556 @default.
- W3126023734 hasRelatedWork W3122009293 @default.
- W3126023734 hasRelatedWork W3122745334 @default.
- W3126023734 hasRelatedWork W3123175426 @default.
- W3126023734 hasRelatedWork W3123203678 @default.
- W3126023734 hasRelatedWork W3124237377 @default.
- W3126023734 hasRelatedWork W3124831105 @default.
- W3126023734 hasRelatedWork W3125231673 @default.
- W3126023734 hasRelatedWork W3125807294 @default.
- W3126023734 hasRelatedWork W3126008248 @default.
- W3126023734 isParatext "false" @default.
- W3126023734 isRetracted "false" @default.
- W3126023734 magId "3126023734" @default.
- W3126023734 workType "article" @default.