Incomplete Credit Markets and Monetary Policy
Author
Abstract
Suggested Citation
DOI: 10.20955/wp.2015.010
Download full text from publisher
Other versions of this item:
- Azariadis, Costas & Bullard, James & Singh, Aarti & Suda, Jacek, 2019. "Incomplete credit markets and monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 103(C), pages 83-101.
- Azariadis, Costas & Bullard, James & Singh, Aarti & Suda, Jacek, 2015. "Incomplete Credit Markets and Monetary Policy," Working Papers 2015-12, University of Sydney, School of Economics, revised Feb 2019.
References listed on IDEAS
- Gomis-Porqueras, Pere & Haro, Àlex, 2009.
"A geometric description of a macroeconomic model with a center manifold,"
Journal of Economic Dynamics and Control, Elsevier, vol. 33(6), pages 1217-1235, June.
- Pere Gomis-Porqueras & Àlex Haro, 2008. "A Geometric Description of a Macroeconomic Model with a Center Manifold," Working Papers 364, Barcelona School of Economics.
- Adam, Klaus & Billi, Roberto M., 2006.
"Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(7), pages 1877-1905, October.
- Adam, Klaus & Billi, Roberto, 2003. "Optimal Monetary Policy Under Commitment with a Zero Bound on Nominal Interest Rates," CEPR Discussion Papers 4111, C.E.P.R. Discussion Papers.
- Roberto M. Billi & Klaus Adam, 2004. "Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates," Computing in Economics and Finance 2004 67, Society for Computational Economics.
- Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," CFS Working Paper Series 2004/13, Center for Financial Studies (CFS).
- Klaus Adam & Roberto M. Billi, 2005. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," Research Working Paper RWP 05-07, Federal Reserve Bank of Kansas City.
- Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," Working Paper Series 377, European Central Bank.
- Benhabib, Jess & Schmitt-Grohe, Stephanie & Uribe, Martin, 2001.
"The Perils of Taylor Rules,"
Journal of Economic Theory, Elsevier, vol. 96(1-2), pages 40-69, January.
- Benhabib, Jess & Schmitt-Grohe, Stephanie & Uribe, Martin, 1998. "The Perils of Taylor Rules," Working Papers 98-37, C.V. Starr Center for Applied Economics, New York University.
- Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 1998. "The perils of Taylor Rules," Departmental Working Papers 199831, Rutgers University, Department of Economics.
- Benhabib, Jess & Schmitt-Grohé, Stephanie & Uribe, Martín, 1999. "The Perils of Taylor Rules," CEPR Discussion Papers 2314, C.E.P.R. Discussion Papers.
- Francisco J. Buera & Juan Pablo Nicolini, 2020.
"Liquidity Traps and Monetary Policy: Managing a Credit Crunch,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 12(3), pages 110-138, July.
- Francisco J. Buera & Juan Pablo Nicolini, 2014. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch," Working Papers 714, Federal Reserve Bank of Minneapolis.
- Francisco J. Buera & Juan Pablo Nicolini, 2014. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch," Working Paper Series WP-2014-14, Federal Reserve Bank of Chicago.
- Juan Pablo Nicolini, 2016. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch," 2016 Meeting Papers 335, Society for Economic Dynamics.
- Francisco J. Buera & Juan Pablo Nicolini, 2017. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch," Staff Report 540, Federal Reserve Bank of Minneapolis.
- Gauti B. Eggertsson & Neil R. Mehrotra, 2014.
"A Model of Secular Stagnation,"
NBER Working Papers
20574, National Bureau of Economic Research, Inc.
- Gauti B. Eggertsson & Neil R. Mehrotra, 2015. "A Model of Secular Stagnation," IMES Discussion Paper Series 15-E-09, Institute for Monetary and Economic Studies, Bank of Japan.
- Schmitt-Grohe, Stephanie & Uribe, Martin, 2004.
"Optimal fiscal and monetary policy under sticky prices,"
Journal of Economic Theory, Elsevier, vol. 114(2), pages 198-230, February.
- Stephanie Schmitt-Grohe & Martin Uribe, 2001. "Optimal fiscal and monetary policy under sticky prices," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
- Uribe, MartÃn & Schmitt-Grohé, Stephanie, 2001. "Optimal Fiscal and Monetary Policy Under Sticky Prices," CEPR Discussion Papers 2942, C.E.P.R. Discussion Papers.
- Stephanie Schmitt-Grohe & Martin Uribe, 2002. "Optimal Fiscal and Monetary Policy Under Sticky Prices," NBER Working Papers 9220, National Bureau of Economic Research, Inc.
- Stephanie Schmitt-Grohe & Martin Uribe, 2001. "Optimal Fiscal and Monetary Policy Under Sticky Prices," Departmental Working Papers 200105, Rutgers University, Department of Economics.
- Guillaume Rocheteau & Randall Wright, 2005.
"Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium,"
Econometrica, Econometric Society, vol. 73(1), pages 175-202, January.
- Guillaume Rocheteau & Randall Wright, 2003. "Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium," PIER Working Paper Archive 03-031, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Randall Wright & Guillame Rocheteau, 2003. "Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium," Levine's Bibliography 666156000000000302, UCLA Department of Economics.
- Guillaume Rocheteau & Randall Wright, 2004. "Money in search equilibrium, in competitive equilibrium, and in competitive search equilibrium," Working Papers (Old Series) 0405, Federal Reserve Bank of Cleveland.
- Azariadis, Costas & Bullard, James & Smith, Bruce D., 2001.
"Private and Public Circulating Liabilities,"
Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 59-116, July.
- Costas Azariadis & James B. Bullard & Bruce Smith, 2000. "Private and public circulating liabilities," Working Papers 2000-012, Federal Reserve Bank of St. Louis.
- Vasco Curdia & Michael Woodford, 2010.
"Conventional and unconventional monetary policy,"
Review, Federal Reserve Bank of St. Louis, vol. 92(May), pages 229-264.
- Woodford, Michael & Cúrdia, Vasco, 2009. "Conventional and Unconventional Monetary Policy," CEPR Discussion Papers 7514, C.E.P.R. Discussion Papers.
- Vasco Curdia & Michael Woodford, 2009. "Conventional and unconventional monetary policy," Staff Reports 404, Federal Reserve Bank of New York.
- Chari, V.V. & Kehoe, Patrick J., 1999.
"Optimal fiscal and monetary policy,"
Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 26, pages 1671-1745,
Elsevier.
- V. V. Chari & Patrick J. Kehoe, 1998. "Optimal fiscal and monetary policy," Staff Report 251, Federal Reserve Bank of Minneapolis.
- V. V. Chari & Patrick J. Kehoe, 1999. "Optimal Fiscal and Monetary Policy," NBER Working Papers 6891, National Bureau of Economic Research, Inc.
- Schmitt-Grohe, Stephanie & Uribe, Martin, 2004.
"Optimal fiscal and monetary policy under imperfect competition,"
Journal of Macroeconomics, Elsevier, vol. 26(2), pages 183-209, June.
- Uribe, MartÃn & Schmitt-Grohé, Stephanie, 2001. "Optimal Fiscal and Monetary Policy under Imperfect Competition," CEPR Discussion Papers 2688, C.E.P.R. Discussion Papers.
- Stephanie Schmitt-Grohe & Martin Uribe, 2003. "Optimal Fiscal and Monetary Policy Under Imperfect Competition," NBER Working Papers 10149, National Bureau of Economic Research, Inc.
- Stephanie Schmitt-Grohe & Martin Uribe, 2001. "Optimal Fiscal and Monetary Policy under Imperfect Competition," Departmental Working Papers 200101, Rutgers University, Department of Economics.
- Arvind Krishnamurthy & Annette Vissing-Jorgensen, 2011.
"The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy,"
Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 42(2 (Fall)), pages 215-287.
- Arvind Krishnamurthy & Annette Vissing-Jorgensen, 2011. "The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy," NBER Working Papers 17555, National Bureau of Economic Research, Inc.
- Adam, Klaus & Billi, Roberto M., 2007.
"Discretionary monetary policy and the zero lower bound on nominal interest rates,"
Journal of Monetary Economics, Elsevier, vol. 54(3), pages 728-752, April.
- Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under discretion with a zero bound on nominal interest rates," Working Paper Series 380, European Central Bank.
- Adam, Klaus & Billi, Roberto M., 2005. "Discretionary monetary policy and the zero lower bound on nominal interest rates," CFS Working Paper Series 2005/16, Center for Financial Studies (CFS).
- Klaus Adam & Roberto M. Billi, 2005. "Discretionary monetary policy and the zero lower bound on nominal interest rates," Research Working Paper RWP 05-08, Federal Reserve Bank of Kansas City.
- Adam, Klaus & Billi, Roberto, 2004. "Optimal Monetary Policy Under Discretion with a Zero Bound on Nominal Interest Rates," CEPR Discussion Papers 4585, C.E.P.R. Discussion Papers.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2017.
"Mortgages and Monetary Policy,"
The Review of Financial Studies, Society for Financial Studies, vol. 30(10), pages 3337-3375.
- Carlos Garriga & Finn E. Kydland & Roman Sustek, 2013. "Mortgages and Monetary Policy," NBER Working Papers 19744, National Bureau of Economic Research, Inc.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2015. "Mortgages and Monetary Policy," Working Papers 751, Queen Mary University of London, School of Economics and Finance.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2015. "Mortgages and Monetary Policy," Working Papers 2015-33, Federal Reserve Bank of St. Louis.
- Roman Sustek & Finn Kydland & Carlos Garriga, 2015. "Mortgages and Monetary Policy," 2015 Meeting Papers 500, Society for Economic Dynamics.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2013. "Mortgages and Monetary Policy," Discussion Papers 1306, Centre for Macroeconomics (CFM), revised May 2016.
- Garriga, Carlos & Kydland, Finn E. & Šustek, Roman, 2013. "Mortgages and monetary policy," LSE Research Online Documents on Economics 58248, London School of Economics and Political Science, LSE Library.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2013. "Mortgages and monetary policy," Working Papers 2013-37, Federal Reserve Bank of St. Louis.
- Kevin D. Sheedy, 2014.
"Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting,"
Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 45(1 (Spring), pages 301-373.
- Kevin D. Sheedy, 2013. "Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting," CEP Discussion Papers dp1209, Centre for Economic Performance, LSE.
- Sheedy, Kevin D., 2014. "Debt and incomplete financial markets: a case for nominal GDP targeting," LSE Research Online Documents on Economics 66196, London School of Economics and Political Science, LSE Library.
- Sheedy, Kevin, 2014. "Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting," CEPR Discussion Papers 9843, C.E.P.R. Discussion Papers.
- Sheedy, Kevin D., 2013. "Debt and incomplete financial markets: a case for nominal GDP targeting," LSE Research Online Documents on Economics 51545, London School of Economics and Political Science, LSE Library.
- Bullard, James & Smith, Bruce D., 2003.
"Intermediaries and payments instruments,"
Journal of Economic Theory, Elsevier, vol. 109(2), pages 172-197, April.
- James B. Bullard & Bruce Smith, 2002. "Intermediaries and payments instruments," Working Papers 2002-006, Federal Reserve Bank of St. Louis.
- Ricardo J Caballero & Emmanuel Farhi, 2018.
"The Safety Trap,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(1), pages 223-274.
- Ricardo J Caballero & Emmanuel Farhi, "undated". "The Safety Trap," Working Paper 233766, Harvard University OpenScholar.
- Ricardo J. Caballero & Emmanuel Farhi, 2014. "The Safety Trap," NBER Working Papers 19927, National Bureau of Economic Research, Inc.
- Ricardo Caballero & Emmanuel Farhi, 2015. "The Safety Trap," Working Paper 146986, Harvard University OpenScholar.
- Sanches, Daniel & Williamson, Stephen, 2010.
"Money and credit with limited commitment and theft,"
Journal of Economic Theory, Elsevier, vol. 145(4), pages 1525-1549, July.
- Williamson, Stephen & Sanches, Daniel, 2009. "Money and Credit With Limited Commitment and Theft," MPRA Paper 20690, University Library of Munich, Germany.
- Aloísio Araújo & Susan Schommer & Michael Woodford, 2015.
"Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 7(1), pages 1-43, January.
- Aloísio Araújo & Susan Schommer & Michael Woodford, 2013. "Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints," NBER Chapters, in: Lessons from the Financial Crisis for Monetary Policy, National Bureau of Economic Research, Inc.
- Aloísio Araújo & Susan Schommer & Michael Woodford, 2013. "Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints," NBER Working Papers 19711, National Bureau of Economic Research, Inc.
- Woodford, Michael & Araujo, Aloisio & Schommer, Susan, 2014. "Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints," CEPR Discussion Papers 9995, C.E.P.R. Discussion Papers.
- Stephen J. Cole, 2021.
"Learning and the Effectiveness of Central Bank Forward Guidance,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 157-200, February.
- Cole, Stephen, 2015. "Learning and the effectiveness of central bank forward guidance," MPRA Paper 65207, University Library of Munich, Germany.
- James Bullard & Aarti Singh, 2020.
"Nominal GDP Targeting with Heterogeneous Labor Supply,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 37-77, February.
- James B. Bullard & Aarti Singh, 2017. "Nominal GDP Targeting With Heterogeneous Labor Supply," Working Papers 2017-16, Federal Reserve Bank of St. Louis.
- Bullard, James & Singh, Aarti, 2017. "Nominal GDP Targeting with Heterogeneous Labor Supply," Working Papers 2017-03, University of Sydney, School of Economics, revised Jan 2019.
- Bullard, James & Singh, Aarti, 2018. "Nominal GDP Targeting with Heterogenous Labor Supply," Working Papers 2018-13, University of Sydney, School of Economics.
- Marco Del Negro & Gauti Eggertsson & Andrea Ferrero & Nobuhiro Kiyotaki, 2017.
"The Great Escape? A Quantitative Evaluation of the Fed's Liquidity Facilities,"
American Economic Review, American Economic Association, vol. 107(3), pages 824-857, March.
- Marco Del Negro & Gauti B. Eggertsson & Andrea Ferrero & Nobuhiro Kiyotaki, 2011. "The great escape? A quantitative evaluation of the Fed’s liquidity facilities," Staff Reports 520, Federal Reserve Bank of New York.
- Marco Del Negro & Gauti Eggertsson & Andrea Ferrero & Nobuhiro Kiyotaki, 2016. "The Great Escape? A Quantitative Evaluation of the Fed’s Liquidity Facilities," NBER Working Papers 22259, National Bureau of Economic Research, Inc.
- Atif Mian & Amir Sufi, 2011.
"House Prices, Home Equity-Based Borrowing, and the US Household Leverage Crisis,"
American Economic Review, American Economic Association, vol. 101(5), pages 2132-2156, August.
- Atif R. Mian & Amir Sufi, 2009. "House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis," NBER Working Papers 15283, National Bureau of Economic Research, Inc.
- Cúrdia, Vasco & Woodford, Michael, 2011.
"The central-bank balance sheet as an instrument of monetarypolicy,"
Journal of Monetary Economics, Elsevier, vol. 58(1), pages 54-79, January.
- Vasco Curdia & Michael Woodford, 2010. "The central-bank balance sheet as an instrument of monetary policy," Staff Reports 463, Federal Reserve Bank of New York.
- Vasco Curdia & Michael Woodford, 2010. "The Central-Bank Balance Sheet as an Instrument of Monetary Policy," NBER Working Papers 16208, National Bureau of Economic Research, Inc.
- Michael Woodford & Vasco Curdia, 2010. "The Central Bank's Balance Sheet as an Instrument of Monetary Policy," 2010 Meeting Papers 136, Society for Economic Dynamics.
- Billi, Roberto M., 2017.
"A Note On Nominal Gdp Targeting And The Zero Lower Bound,"
Macroeconomic Dynamics, Cambridge University Press, vol. 21(8), pages 2138-2157, December.
- Billi, Roberto M., 2013. "Nominal GDP Targeting and the Zero Lower Bound: Should We Abandon Inflation Targeting?," Working Paper Series 270, Sveriges Riksbank (Central Bank of Sweden).
- Matthias Doepke & Martin Schneider, 2006. "Inflation and the Redistribution of Nominal Wealth," Journal of Political Economy, University of Chicago Press, vol. 114(6), pages 1069-1097, December.
- James D. Hamilton & Jing Cynthia Wu, 2012.
"The Effectiveness of Alternative Monetary Policy Tools in a Zero Lower Bound Environment,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(s1), pages 3-46, February.
- James D. Hamilton & Jing Cynthia Wu, 2012. "The Effectiveness of Alternative Monetary Policy Tools in a Zero Lower Bound Environment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 3-46, February.
- James D. Hamilton & Jing Cynthia Wu, 2011. "The Effectiveness of Alternative Monetary Policy Tools in a Zero Lower Bound Environment," NBER Working Papers 16956, National Bureau of Economic Research, Inc.
- Fernando Alvarez & Robert E. Lucas & Warren E. Weber, 2001.
"Interest Rates and Inflation,"
American Economic Review, American Economic Association, vol. 91(2), pages 219-225, May.
- Fernando Alvarez & Robert E. Lucas & Warren E. Weber, 2001. "Interest rates and inflation," Working Papers 609, Federal Reserve Bank of Minneapolis.
- Neely, Christopher J., 2015.
"Unconventional monetary policy had large international effects,"
Journal of Banking & Finance, Elsevier, vol. 52(C), pages 101-111.
- Christopher J. Neely, 2010. "The large scale asset purchases had large international effects," Working Papers 2010-018, Federal Reserve Bank of St. Louis.
- Bohn, Henning, 1988. "Why do we have nominal government debt?," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 127-140, January.
- Zervou, Anastasia S., 2013. "Financial market segmentation, stock market volatility and the role of monetary policy," European Economic Review, Elsevier, vol. 63(C), pages 256-272.
- Chari, V V & Christiano, Lawrence J & Kehoe, Patrick J, 1991.
"Optimal Fiscal and Monetary Policy: Some Recent Results,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(3), pages 519-539, August.
- V. V. Chari & Lawrence J. Christiano & Patrick J. Kehoe, 1991. "Optimal fiscal and monetary policy: some recent results," Proceedings, Federal Reserve Bank of Cleveland, pages 519-546.
- V. V. Chari & Lawrence J. Christiano & Patrick J. Kehoe, 1991. "Optimal fiscal and monetary policy: some recent results," Staff Report 147, Federal Reserve Bank of Minneapolis.
- Wallace, Neil, 1981.
"A Modigliani-Miller Theorem for Open-Market Operations,"
American Economic Review, American Economic Association, vol. 71(3), pages 267-274, June.
- Neil Wallace, 1979. "A Modigliani-Miller theorem for open-market operations," Staff Report 44, Federal Reserve Bank of Minneapolis.
- Jung, Taehun & Teranishi, Yuki & Watanabe, Tsutomu, 2005. "Optimal Monetary Policy at the Zero-Interest-Rate Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(5), pages 813-835, October.
- Joseph E. Gagnon & Matthew Raskin & Julie Remache & Brian P. Sack, 2011.
"Large-scale asset purchases by the Federal Reserve: did they work?,"
Economic Policy Review, Federal Reserve Bank of New York, vol. 17(May), pages 41-59.
- Joseph E. Gagnon & Matthew Raskin & Julie Remache & Brian P. Sack, 2010. "Large-scale asset purchases by the Federal Reserve: did they work?," Staff Reports 441, Federal Reserve Bank of New York.
- Andrew Glover & Jonathan Heathcote & Dirk Krueger & José-Víctor Ríos-Rull, 2020.
"Intergenerational Redistribution in the Great Recession,"
Journal of Political Economy, University of Chicago Press, vol. 128(10), pages 3730-3778.
- Jose-Victor Rios Rull & Jonathan Heathcote & Dirk Krueger & Andy Glover, 2011. "Intergenerational Redistribution in the Great Recession," 2011 Meeting Papers 141, Society for Economic Dynamics.
- Andrew Glover & Jonathan Heathcote & Dirk Krueger & José-Víctor Ríos-Rull, 2014. "Intergenerational Redistribution in the Great Recession," Staff Report 498, Federal Reserve Bank of Minneapolis.
- Andrew Glover & Jonathan Heathcote & Dirk Krueger & José-Víctor Ríos-Rull, 2011. "Intergenerational redistribution in the Great Recession," Working Papers 684, Federal Reserve Bank of Minneapolis.
- Andrew Glover & Jonathan Heathcote & Dirk Krueger & José-Víctor Ríos-Rull, 2011. "Intergenerational Redistribution in the Great Recession," NBER Working Papers 16924, National Bureau of Economic Research, Inc.
- Heathcote, Jonathan & Krueger, Dirk & Glover, Andrew, 2011. "Intergenerational Redistribution in the Great Recession," CEPR Discussion Papers 8329, C.E.P.R. Discussion Papers.
- Gauti B. Eggertsson & Michael Woodford, 2003. "The Zero Bound on Interest Rates and Optimal Monetary Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(1), pages 139-235.
- Gauti B. Eggertsson & Neil R. Mehrotra & Jacob A. Robbins, 2019.
"A Model of Secular Stagnation: Theory and Quantitative Evaluation,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 11(1), pages 1-48, January.
- Gauti B. Eggertsson & Neil R. Mehrotra & Jacob A. Robbins, 2017. "A Model of Secular Stagnation: Theory and Quantitative Evaluation," NBER Working Papers 23093, National Bureau of Economic Research, Inc.
- Gauti B. Eggertsson & Neil Mehrotra & Jacob A. Robbins, 2017. "A Model of Secular Stagnation: Theory and Quantitative Evaluation," Working Papers 742, Federal Reserve Bank of Minneapolis.
- James B. Bullard, 2014. "Discussion of 'debt and incomplete financial markets' by Kevin Sheedy," Speech 228, Federal Reserve Bank of St. Louis.
- Andrew Levin & David López-Salido & Edward Nelson & Yack Yun, 2010.
"Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound,"
International Journal of Central Banking, International Journal of Central Banking, vol. 6(1), pages 143-189, March.
- Levin, Andrew & López-Salido, J David & Nelson, Edward & Yun, Tack, 2009. "Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound," CEPR Discussion Papers 7581, C.E.P.R. Discussion Papers.
- Stephen D. Williamson, 2012. "Liquidity, Monetary Policy, and the Financial Crisis: A New Monetarist Approach," American Economic Review, American Economic Association, vol. 102(6), pages 2570-2605, October.
- Gauti B. Eggertsson & Michael Woodford, 2006.
"Optimal Monetary and Fiscal Policy in a Liquidity Trap,"
NBER Chapters, in: NBER International Seminar on Macroeconomics 2004, pages 75-144,
National Bureau of Economic Research, Inc.
- Gauti B. Eggertsson & Michael Woodford, 2004. "Optimal Monetary and Fiscal Policy in a Liquidity Trap," NBER Working Papers 10840, National Bureau of Economic Research, Inc.
- Jordi Galí, 2018.
"The State of New Keynesian Economics: A Partial Assessment,"
Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 87-112, Summer.
- Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," NBER Working Papers 24845, National Bureau of Economic Research, Inc.
- GalÃ, Jordi, 2018. "The State of New Keynesian Economics: A Partial Assessment," CEPR Discussion Papers 13095, C.E.P.R. Discussion Papers.
- Williamson, Stephen D., 2016.
"Scarce collateral, the term premium, and quantitative easing,"
Journal of Economic Theory, Elsevier, vol. 164(C), pages 136-165.
- Stephen D. Williamson, 2014. "Scarce collateral, the term premium, and quantitative easing," Working Papers 2014-8, Federal Reserve Bank of St. Louis.
- Arvind Krishnamurthy & Annette Vissing-Jorgensen, 2011. "The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 43(2 (Fall)), pages 215-287.
- Evan F. Koenig, 2013. "Like a Good Neighbor: Monetary Policy, Financial Stability, and the Distribution of Risk," International Journal of Central Banking, International Journal of Central Banking, vol. 9(2), pages 57-82, June.
- Michael Woodford, 2012. "Methods of policy accommodation at the interest-rate lower bound," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 185-288.
- Garín, Julio & Lester, Robert & Sims, Eric, 2016.
"On the desirability of nominal GDP targeting,"
Journal of Economic Dynamics and Control, Elsevier, vol. 69(C), pages 21-44.
- Julio Garín & Robert Lester & Eric Sims, 2015. "On the Desirability of Nominal GDP Targeting," NBER Working Papers 21420, National Bureau of Economic Research, Inc.
- Scott Sumner, 2014. "Nominal GDP Targeting: A Simple Rule to Improve Fed Performance," Cato Journal, Cato Journal, Cato Institute, vol. 34(2), pages 315-337, Spring/Su.
- Siu, Henry E., 2004. "Optimal fiscal and monetary policy with sticky prices," Journal of Monetary Economics, Elsevier, vol. 51(3), pages 575-607, April.
- Andrew Filardo & Boris Hofmann, 2014. "Forward guidance at the zero lower bound," BIS Quarterly Review, Bank for International Settlements, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Lasitha R. C. Pathberiya, 2016. "Optimal Monetary Policy at the Zero Lower Bound on Nominal Interest Rates in a Cost Channel Economy," Discussion Papers Series 568, School of Economics, University of Queensland, Australia.
- Sheedy, Kevin D., 2017.
"Conventional and unconventional monetary policy rules,"
Journal of Macroeconomics, Elsevier, vol. 54(PA), pages 127-147.
- Sheedy, Kevin D., 2017. "Conventional and unconventional monetary policy rules," LSE Research Online Documents on Economics 83608, London School of Economics and Political Science, LSE Library.
- Garriga, Carlos & Kydland, Finn E. & Šustek, Roman, 2016.
"Nominal rigidities in debt and product markets,"
LSE Research Online Documents on Economics
86223, London School of Economics and Political Science, LSE Library.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal rigidities in debt and product markets," Working Papers 2016-17, Federal Reserve Bank of St. Louis.
- Carlos Garriga & Finn E. Kydland & Roman Sustek, 2016. "Nominal rigidities in debt and product markets," Discussion Papers 1625, Centre for Macroeconomics (CFM).
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal Rigidities in Debt and Product Markets," NBER Working Papers 22613, National Bureau of Economic Research, Inc.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal Rigidities in Debt and Product Markets," Working Papers 801, Queen Mary University of London, School of Economics and Finance.
- Lars E.O. Svensson, 2020.
"Monetary Policy Strategies for the Federal Reserve,"
International Journal of Central Banking, International Journal of Central Banking, vol. 16(1), pages 133-193, February.
- Svensson, Lars E.O., 2019. "Monetary Policy Strategies for the Federal Reserve," CEPR Discussion Papers 14247, C.E.P.R. Discussion Papers.
- Lars E.O. Svensson, 2020. "Monetary Policy Strategies for the Federal Reserve," NBER Working Papers 26657, National Bureau of Economic Research, Inc.
- Benchimol, Jonathan, 2024.
"Central bank objectives, monetary policy rules, and limited information,"
Journal of Macroeconomics, Elsevier, vol. 80(C).
- Jonathan Benchimol, 2024. "Central Bank Objectives, Monetary Policy Rules, and Limited Information," Bank of Israel Working Papers 2024.04, Bank of Israel.
- Jonathan Benchimol, 2024. "Central bank objectives, monetary policy rules, and limited information," Post-Print emse-04624959, HAL.
- James Bullard & Aarti Singh, 2020.
"Nominal GDP Targeting with Heterogeneous Labor Supply,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 37-77, February.
- James B. Bullard & Aarti Singh, 2017. "Nominal GDP Targeting With Heterogeneous Labor Supply," Working Papers 2017-16, Federal Reserve Bank of St. Louis.
- Bullard, James & Singh, Aarti, 2017. "Nominal GDP Targeting with Heterogeneous Labor Supply," Working Papers 2017-03, University of Sydney, School of Economics, revised Jan 2019.
- Bullard, James & Singh, Aarti, 2018. "Nominal GDP Targeting with Heterogenous Labor Supply," Working Papers 2018-13, University of Sydney, School of Economics.
- James B. Bullard & Riccardo DiCecio, 2019.
"Optimal Monetary Policy for the Masses,"
Working Papers
2019-009, Federal Reserve Bank of St. Louis, revised 25 Jul 2023.
- James B. Bullard, 2020. "Optimal Monetary Policy for the Masses," Speech 88942, Federal Reserve Bank of St. Louis.
- James Bullard & Riccardo DiCecio, 2019. "Optimal Monetary Policy for the Masses," 2019 Meeting Papers 347, Society for Economic Dynamics.
- James B. Bullard, 2020. "Optimal Monetary Policy for the Masses," Speech 89139, Federal Reserve Bank of St. Louis.
- Garriga, Carlos & Kydland, Finn E. & Šustek, Roman, 2016.
"Nominal rigidities in debt and product markets,"
LSE Research Online Documents on Economics
86223, London School of Economics and Political Science, LSE Library.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal Rigidities in Debt and Product Markets," Working Papers 801, Queen Mary University of London, School of Economics and Finance.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal Rigidities in Debt and Product Markets," NBER Working Papers 22613, National Bureau of Economic Research, Inc.
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal Rigidities in Debt and Product Markets," Working Papers 801, Queen Mary University of London, School of Economics and Finance.
- Carlos Garriga & Finn E. Kydland & Roman Sustek, 2016. "Nominal rigidities in debt and product markets," Discussion Papers 1625, Centre for Macroeconomics (CFM).
- Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal rigidities in debt and product markets," Working Papers 2016-17, Federal Reserve Bank of St. Louis.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- James B. Bullard & Aarti Singh, 2016. "Incomplete Credit Markets and Monetary Policy with Heterogeneous Labor Supply : a presentation at Bank of Korea 2016 Conference, Employment and Growth, Seoul, Korea, May 30, 2016," Speech 270, Federal Reserve Bank of St. Louis.
- van Holle, Frederiek, 2017. "Essays in empirical finance and monetary policy," Other publications TiSEM 30d11a4b-7bc9-4c81-ad24-5, Tilburg University, School of Economics and Management.
- Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2017.
"Forward Guidance And The State Of The Economy,"
Economic Inquiry, Western Economic Association International, vol. 55(4), pages 1593-1624, October.
- William T. Gavin & Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2013. "The stimulative effect of forward guidance," Working Papers 2013-38, Federal Reserve Bank of St. Louis.
- Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2016. "Forward guidance and the state of the economy," Working Papers 1612, Federal Reserve Bank of Dallas.
- Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2015. "Forward Guidance and the State of the Economy," Auburn Economics Working Paper Series auwp2015-10, Department of Economics, Auburn University.
- José Dorich & Nicholas Labelle St‐Pierre & Vadym Lepetyuk & Rhys R. Mendes, 2018.
"Could a higher inflation target enhance macroeconomic stability?,"
Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(3), pages 1029-1055, August.
- José Dorich & Nicholas Labelle St-Pierre & Vadym Lepetyuk & Rhys R. Mendes, 2018. "Could a higher inflation target enhance macroeconomic stability?," Canadian Journal of Economics, Canadian Economics Association, vol. 51(3), pages 1029-1055, August.
- José Dorich & Nicholas Labelle & Vadym Lepetyuk & Rhys R. Mendes, 2018. "Could a Higher Inflation Target Enhance Macroeconomic Stability?," Staff Working Papers 18-17, Bank of Canada.
- José Dorich & Nicholas Labelle St-Pierre & Vadym Lepetyuk & Rhys Mendes, 2018. "Could a higher inflation target enhance macroeconomic stability?," BIS Working Papers 720, Bank for International Settlements.
- Anna Duszak, 2018. "Does the Way of Financing Quantitative Easing Programmes Matter?," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 10(2), pages 101-131, June.
- Billi, Roberto M., 2018.
"Price level targeting and risk management,"
Economic Modelling, Elsevier, vol. 73(C), pages 163-173.
- Roberto M. Billi, 2008. "Price-level targeting and risk management in a low-inflation economy," Research Working Paper RWP 08-09, Federal Reserve Bank of Kansas City.
- Billi, Roberto, 2015. "Price Level Targeting and Risk Management," Working Paper Series 302, Sveriges Riksbank (Central Bank of Sweden), revised 01 Feb 2016.
- Matteo Falagiarda, 2014.
"Evaluating quantitative easing: a DSGE approach,"
International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 7(4), pages 302-327.
- Falagiarda, Matteo, 2013. "Evaluating Quantitative Easing: A DSGE Approach," MPRA Paper 49457, University Library of Munich, Germany.
- Claudio Borio & Anna Zabai, 2018.
"Unconventional monetary policies: a re-appraisal,"
Chapters, in: Peter Conti-Brown & Rosa M. Lastra (ed.), Research Handbook on Central Banking, chapter 20, pages 398-444,
Edward Elgar Publishing.
- Claudio Borio & Piti Disyatat, 2010. "Unconventional Monetary Policies: An Appraisal," Manchester School, University of Manchester, vol. 78(s1), pages 53-89, September.
- Claudio Borio & Piti Disyatat, 2009. "Unconventional monetary policies: an appraisal," BIS Working Papers 292, Bank for International Settlements.
- Claudio Borio & Anna Zabai, 2016. "Unconventional monetary policies: a re-appraisal," BIS Working Papers 570, Bank for International Settlements.
- Florin O. Bilbiie, 2019.
"Optimal Forward Guidance,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 11(4), pages 310-345, October.
- Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.
- Marco Di Maggio & Amir Kermani & Christopher Palmer, 2016. "How Quantitative Easing Works: Evidence on the Refinancing Channel," NBER Working Papers 22638, National Bureau of Economic Research, Inc.
- Howard Kung & Gonzalo Morales & Alexandre Corhay, 2017. "Fiscal Discount Rates and Debt Maturity," 2017 Meeting Papers 840, Society for Economic Dynamics.
- Piotr Ciżkowicz & Andrzej Rzońca & Andrzej Torój, 2019.
"In Search of an Appropriate Lower Bound. The Zero Lower Bound vs. the Positive Lower Bound under Discretion and Commitment,"
German Economic Review, Verein für Socialpolitik, vol. 20(4), pages 1028-1053, November.
- Ciżkowicz Piotr & Rzońca Andrzej & Torój Andrzej, 2019. "In Search of an Appropriate Lower Bound. The Zero Lower Bound vs. the Positive Lower Bound under Discretion and Commitment," German Economic Review, De Gruyter, vol. 20(4), pages 1028-1053, December.
- Piotr Cizkowicz & Andrzej Rzonca & Andrzej Toroj, 2015. "In search for appropriate lower bound.Zero lower bound vs. positive lower bound under discretion and commitment," NBP Working Papers 215, Narodowy Bank Polski.
- Bouakez, Hafedh & Oikonomou, Rigas & Priftis, Romanos, 2018.
"Optimal debt management in a liquidity trap,"
Journal of Economic Dynamics and Control, Elsevier, vol. 93(C), pages 5-21.
- Hafedh BOUAKEZ & Rigas OIKONOMOU & Romanos PRIFTIS, 2016. "Optimal Debt Management in a Liquidity Trap," LIDAM Discussion Papers IRES 2016005, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Romanos Priftis & Rigas Oikonomou & Hafedh Bouakez, 2017. "Optimal Debt Management in a Liquidity Trap," 2017 Meeting Papers 1316, Society for Economic Dynamics.
- Hafedh BOUAKEZ & Rigas OIKONOMOU & Romanos PRIFTIS, 2017. "Optimal Debt Management in a Liquidity Trap," Cahiers de recherche 09-2017, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Semyon Malamud & Andreas Schrimpf, 2016.
"Intermediation Markups and Monetary Policy Passthrough,"
Swiss Finance Institute Research Paper Series
16-75, Swiss Finance Institute.
- Andreas Schrimpf & Semyon Malamud, 2017. "Intermediation Markups and Monetary Policy Passthrough," 2017 Meeting Papers 812, Society for Economic Dynamics.
- Schrimpf, Paul & Malamud, Semyon, 2018. "Intermediation markups and monetary policy pass-through," CEPR Discussion Papers 12623, C.E.P.R. Discussion Papers.
- Vladimir Asriyan & Luca Fornaro & Alberto Martin & Jaume Ventura, 2021.
"Monetary Policy for a Bubbly World [Money and Capital in a Persistent Liquidity Trap],"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(3), pages 1418-1456.
- Vladimir Asriyan & Luca Fornaro & Alberto Martin & Jaume Ventura, 2016. "Monetary policy for a bubbly world," Economics Working Papers 1533, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2020.
- Ventura, Jaume & Asriyan, Vladimir & Fornaro, Luca & MartÃn, Alberto, 2019. "Monetary Policy for a Bubbly World," CEPR Discussion Papers 13803, C.E.P.R. Discussion Papers.
- Vladimir Asriyan & Luca Fornaro & Alberto Martin & Jaume Ventura, 2016. "Monetary Policy for a Bubbly World," NBER Working Papers 22639, National Bureau of Economic Research, Inc.
- Vladimir Asriyan & Luca Fornaro & Alberto Martín & Jaume Ventura, 2016. "Monetary Policy for a Bubbly World," Working Papers 921, Barcelona School of Economics.
- Meixing Dai & Frédéric Dufourt & Qiao Zhang, 2013.
"Large Scale Asset Purchases with segmented mortgage and corporate loan markets,"
Working Papers of BETA
2013-20, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Meixing Dai & Frédéric Dufourt & Qiao Zhang, 2013. "Large Scale Asset Purchases with Segmented Mortgage and Corporate Loan Markets," AMSE Working Papers 1336, Aix-Marseille School of Economics, France, revised Jun 2013.
- Meixing Dai & Frédéric Dufourt & Qiao Zhang, 2013. "Large Scale Asset Purchases with Segmented Mortgage and Corporate Loan Markets," Working Papers halshs-00842279, HAL.
- Hoelle, Matthew, 2015. "On the Pareto efficiency of term structure targeting policies," Mathematical Social Sciences, Elsevier, vol. 77(C), pages 62-69.
- Boel, Paola & Waller, Christopher J., 2015.
"On the Theoretical Efficacy of Quantitative Easing at the Zero Lower Bound,"
Working Paper Series
310, Sveriges Riksbank (Central Bank of Sweden).
- Christopher Waller & Paola Boel, 2017. "On the Theoretical Efficacy of Quantitative Easing at the Zero Lower Bound," 2017 Meeting Papers 1030, Society for Economic Dynamics.
- Paola Boel & Christopher J. Waller, 2015. "On the Theoretical Efficacy of Quantitative Easing at the Zero Lower Bound," Working Papers 2015-027, Federal Reserve Bank of St. Louis.
- Hess Chung & Jean-Philippe Laforte & David Reifschneider & John C. Williams, 2012.
"Have We Underestimated the Likelihood and Severity of Zero Lower Bound Events?,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 47-82, February.
- Hess Chung & Jean‐Philippe Laforte & David Reifschneider & John C. Williams, 2012. "Have We Underestimated the Likelihood and Severity of Zero Lower Bound Events?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(s1), pages 47-82, February.
- Hess T. Chung & Jean-Philippe Laforte & David L. Reifschneider & John C. Williams, 2011. "Have we underestimated the likelihood and severity of zero lower bound events?," Working Paper Series 2011-01, Federal Reserve Bank of San Francisco.
- Jordi Galí, 2018.
"The State of New Keynesian Economics: A Partial Assessment,"
Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 87-112, Summer.
- Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," NBER Working Papers 24845, National Bureau of Economic Research, Inc.
- GalÃ, Jordi, 2018. "The State of New Keynesian Economics: A Partial Assessment," CEPR Discussion Papers 13095, C.E.P.R. Discussion Papers.
More about this item
Keywords
Monetary policy; incomplete credit markets; non-state contingent nominal contracts; life cycle economies; heterogeneous households; nominal GDP targeting;All these keywords.
JEL classification:
- E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBA-2015-06-05 (Central Banking)
- NEP-DGE-2015-06-05 (Dynamic General Equilibrium)
- NEP-MAC-2015-06-05 (Macroeconomics)
- NEP-MON-2015-06-05 (Monetary Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedlwp:2015-010. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anna Oates (email available below). General contact details of provider: https://edirc.repec.org/data/frbslus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.