The Expansionary Lower Bound : Contractionary Monetary Easing and the Trilemma /
We provide a theory of the limits to monetary policy independence in open economies arising from the interaction between capital flows and domestic collateral constraints. The key feature of our theory is the existence of an 'Expansionary Lower Bound' (ELB), defined as an interest rate thr...
| প্রধান লেখক: | |
|---|---|
| অন্যান্য লেখক: | |
| বিন্যাস: | পত্রিকা |
| ভাষা: | English |
| প্রকাশিত: |
Washington, D.C. :
International Monetary Fund,
2018.
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| মালা: | IMF Working Papers; Working Paper ;
No. 2018/236 |
| অনলাইন ব্যবহার করুন: | Full text available on IMF |