How to Fight Deflation in a Liquidity Trap : Committing to Being Irresponsible /
I model deflation, at zero nominal interest rate, in a microfounded general equilibrium model. I show that deflation can be analyzed as a credibility problem if the government has only one policy instrument, money supply carried out by means of open market operations in short-term bonds, and cannot...
| المؤلف الرئيسي: | |
|---|---|
| التنسيق: | دورية |
| اللغة: | English |
| منشور في: |
Washington, D.C. :
International Monetary Fund,
2003.
|
| سلاسل: | IMF Working Papers; Working Paper ;
No. 2003/064 |
| الوصول للمادة أونلاين: | Full text available on IMF |