Inflation targeting and the liquidity trap
This paper considers whether issues regarding liquidity trap or zero lower bound phenomena substantially affect the case for inflation targeting, in comparison with other possible strategies for conducting monetary policy. It examines both theoretical and empirical issues and, in the latter case, em...
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| Formato: | Artículo |
| Lenguaje: | eng |
| Publicado: |
Banco Central de Chile
2019
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| Acceso en línea: | https://hdl.handle.net/20.500.12580/3672 |
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| Sumario: | This paper considers whether issues regarding liquidity trap or zero lower bound phenomena substantially affect the case for inflation targeting, in comparison with other possible strategies for conducting monetary policy. It examines both theoretical and empirical issues and, in the latter case, emphasizes the importance of an economy's openness to foreign trade in goods and securities. |
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