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|c 20.00 USD
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|z 9781513556062
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|a 2616-5333
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|a BD-DhAAL
|c BD-DhAAL
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|a Adrian, Tobias.
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|a Low for Long and Risk-Taking /
|c Tobias Adrian.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2020.
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|a 1 online resource (37 pages)
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|a Departmental Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The COVID-19 pandemic is causing an unprecedented worldwide economic contraction, leading central banks to reduce interest rates to historically low levels and making unconventional monetary policies-including 'low for long' interest rates and asset purchases-increasingly common. Arguably, however, the policies implemented are efficient because they encourage increased risk-taking, and they may have, if unintentionally, increase medium- and long-run macro-financial vulnerabilities. This paper argues that the resulting trade-offs need to be carefully accounted for in monetary policy models and outlines how that can be achieved in practice.
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|a Mode of access: Internet
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|a Financial Stability
|2 imf
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|a Monetary Policy
|2 imf
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|a Monetary-Policy Decision Makers
|2 imf
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|a NKV Model
|2 imf
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|a Risk-Taking
|2 imf
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|a Departmental Papers; Departmental Paper ;
|v No. 2020/015
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/087/2020/015/087.2020.issue-015-en.xml
|z IMF e-Library
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