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The Safety Trap

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Publication:4610879
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DOI10.1093/restud/rdx013zbMath1405.91448OpenAlexW4252880805MaRDI QIDQ4610879

Emmanuel Farhi, Ricardo J Caballero

Publication date: 23 January 2019

Published in: The Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: http://hdl.handle.net/1721.1/113840


zbMATH Keywords

monetary policyrisk premiaquantitative easingforward guidanceliquidity trapshelicopter dropsunconventional


Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)


Related Items (12)

Disciplining expectations and the forward guidance puzzle ⋮ The fiscal theory of the price level in a world of low interest rates ⋮ Financial crisis and slow recovery with Bayesian learning agents ⋮ Savings, asset scarcity, and monetary policy ⋮ Moderating noise-driven macroeconomic fluctuations under dispersed information ⋮ “CONVENTIONAL” MONETARY POLICY IN OLG MODELS: REVISITING THE ASSET‐SUBSTITUTION CHANNEL ⋮ Optimal monetary policy in a collateralized economy ⋮ Structural unemployment, underemployment, and secular stagnation ⋮ The paradox of safe asset creation ⋮ Flight to housing in China ⋮ Secular stagnation: theory and remedies ⋮ Resolution of financial crises




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