Inflation targets and the liquidity trap:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Frankfurt am Main
European Central Bank
2003
|
| Schriftenreihe: | Working paper series / European Central Bank
272 |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | 49 S. |
Internformat
MARC
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| 100 | 1 | |a Klaeffling, Matthias |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Inflation targets and the liquidity trap |c Matt Klaeffling ; Victor Lopez Perez |
| 264 | 1 | |a Frankfurt am Main |b European Central Bank |c 2003 | |
| 300 | |a 49 S. | ||
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Datensatz im Suchindex
| _version_ | 1807322495615762432 |
|---|---|
| adam_text |
TABLE
OF
CONTENTS
ABSTRACT
4
I
EXECUTIVE
SUMMARY
5
I
INTRODUCTION
7
2
OPTIMAL
INFLATION
AND
THE
ZERO
LOWER
BOUND
9
2.
1
OPTIMAL
INFLATION
9
2.2
THE
ZERO
LOWER
BOUND
11
2.3
THE
RELEVANCE
OF
THE
ZERO
LOWER
BOUND
14
2.3.1
HISTORICAL
ANALYSIS
14
2.3.2
SIMULATION
ANALYSIS
IS
3
A
SIMPLE
MODEL
16
3.1
MODEL
SPECIFICATION
16
3.1.1
THE
EFFECTS
OF
A
FUNDAMENTAL
SHOCK
IF
THERE
IS
NO
TRAP
IN
THE
MODEL
20
3.
1
.2
THE
EFFECTS
OF
A
NEGATIVE
FUNDAMENTAL
SHOCK
IF
THE
ECONOMY
IS
ALWAYS
IN
THE
TRAP
20
3.2
MODEL
SOLUTION
21
4
MAIN
RESULTS
24
4.
1
REDUCED
FORM
COEFFICIENTS
24
4.2
THE
PROBABILITY
OF
HITTING
THE
ZERO
BOUND
25
4.3
THE
INFLATION
TARGETS
AND
WELFARE
25
4.4
THE
BIAS
STEMMING
FROM
THE
LINEAR
APPROACH
28
5
CONCLUSIONS
29
REFERENCES
3
1
A
MAIN
RESULTS
UNDER
A
DIFFERENT
ASSUMPTION
ON
THE
EQUILIBRIUM
REAL
INTEREST
RATE
38
A.
I
THE
PROBABILITY
OF
HITTING
THE
ZERO
BOUND
38
A.2
THE
WELFARE-MAXIMISING
INFLATION
TARGET
39
TABLES
40
FIGURES
41
EUROPEAN
CENTRAL
BANK
WORKING
PAPER
SERIES
45 |
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| id | DE-604.BV017634756 |
| illustrated | Not Illustrated |
| indexdate | 2024-08-14T00:57:25Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-010606909 |
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| physical | 49 S. |
| publishDate | 2003 |
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| series2 | Working paper series / European Central Bank |
| spelling | Klaeffling, Matthias Verfasser aut Inflation targets and the liquidity trap Matt Klaeffling ; Victor Lopez Perez Frankfurt am Main European Central Bank 2003 49 S. txt rdacontent n rdamedia nc rdacarrier Working paper series / European Central Bank 272 European Central Bank Working paper series 272 (DE-604)BV012681744 272 DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010606909&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Klaeffling, Matthias Inflation targets and the liquidity trap |
| title | Inflation targets and the liquidity trap |
| title_auth | Inflation targets and the liquidity trap |
| title_exact_search | Inflation targets and the liquidity trap |
| title_full | Inflation targets and the liquidity trap Matt Klaeffling ; Victor Lopez Perez |
| title_fullStr | Inflation targets and the liquidity trap Matt Klaeffling ; Victor Lopez Perez |
| title_full_unstemmed | Inflation targets and the liquidity trap Matt Klaeffling ; Victor Lopez Perez |
| title_short | Inflation targets and the liquidity trap |
| title_sort | inflation targets and the liquidity trap |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010606909&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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