Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate

DOI10.1016/j.jedc.2014.05.010zbMath1402.91487OpenAlexW1966559180MaRDI QIDQ1994589

Phuong V. Ngo

Publication date: 1 November 2018

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2014.05.010

zbMATH Keywords

nonlinear methodcalvo price adjustmentsdistorted steady stateoptimal discretionary monetary policyoptimal inflation rateZLB

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Interest rates, asset pricing, etc. (stochastic models) (91G30) Dynamic stochastic general equilibrium theory (91B51)

Related Items (4)

Optimal fiscal and monetary policy with occasionally binding zero bound constraints ⋮ The inflation bias under Calvo and Rotemberg pricing ⋮ Discretionary monetary policy in the Calvo model ⋮ Multiplicity in New Keynesian models

Uses Software

• CompEcon

Cites Work

• Unnamed Item
• On the estimation of returns to scale, technical progress and monopolistic markups
• Using a projection method to analyze inflation bias in a micro-founded model
• Evaluating the sample likelihood of linearized DSGE models without the use of the Kalman filter
• Solving the multi-country real business cycle model using ergodic set methods
• Optimal fiscal and monetary policy with occasionally binding zero bound constraints
• The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?
• Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*

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