| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4587 |
| DP4587 Federal Funds Rate Prediction | |
| LUCIO SARNO; Daniel L Thornton; Giorgio Valente | |
| 发表日期 | 2004-09-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | An independent central bank can manage its balance sheet and its capital so as to commit itself to a depreciation of its currency and an exchange-rate peg. This way, the central bank can implement the optimal escape from a liquidity trap, which involves a commitment to higher future inflation. This commitment mechanism works even though, realistically, the central bank cannot commit itself to a particular future money supply. It supports the feasibility of Svensson?s Foolproof Way to escape from a liquidity trap. |
| 主题 | International Macroeconomics |
| 关键词 | Zero lower bound for interest rates Deflation |
| URL | https://cepr.org/publications/dp4587 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533508 |
| 推荐引用方式 GB/T 7714 | LUCIO SARNO,Daniel L Thornton,Giorgio Valente. DP4587 Federal Funds Rate Prediction. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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