The zero lower bound on nominal interest rates and monetary policy effectiveness: A survey

被引：7

作者：

Ullersma, CA

机构：

[1] Nederlandsche Bank, Monetary & Econ Policy Dept, NL-1000 AB Amsterdam, Netherlands

[2] Erasmus Univ, OCFEB, Ctr Econ Policy, NL-3000 DR Rotterdam, Netherlands

来源：

ECONOMIST-NETHERLANDS | 2002年 / 150卷 / 03期

关键词：

liquidity trap; monetary policy; zero lower bound;

D O I：

10.1023/A:1016113811607

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper surveys the literature (in monetary policy at the zero lower bound on nominal interest rates. Certain crucial insights regarding expectations have been neglected in recent research in this field, Taking this into account. the interactions between demand, confidence and supply shocks appear crucial for hitting the zero loader bound and escaping from it. Restoring confidence can play a vital role in solving the zero lower bound problem, thereby avoiding a liquidity trap.

引用

页码：273 / 297

页数：25

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