December 5, 2017

The bane of the Zero Lower Bound

For more than 20 years, at a time when inflation had been low and stable for more than a decade, central banks began to discuss “Monetary Policy in a Low Inflation Environment”. Several conferences and papers on the issue followed. This one, from 2000, has a readable discussion and plenty of references. The abstract reads: One of the most striking macroeconomic phenomena in recent decades has been the achievement of rather low and more stable rates of inflation in many countries in the nineties. Consequently, the main goal of this paper is to offer an overview of the main policy… Read More