Comments on monetary policy at the effective lower bound
Constraints on the setting of short-term interest rates due to the effective lower bound are likely to bind more often in the future than in the past if the neutral real rate of interest remains in the neighborhood of 1 percent. This paper argues that the Federal Open Market Committee should commit...
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| Format: | Article |
| Language: | English |
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Brookings Institution Press
2018
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| Online Access: | View Fulltext in Publisher |