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Monetary Policy Alternatives at the Zero Bound: An Empirical Assessment (Finance and Economics Discussion)
Monetary Policy Alternatives at the Zero Bound An Empirical Assessment - Finance and Economics Discussion
Author: Ben S. Bernanke, Vincent R. Reinhart, Brian P. Sack
The success over the years in reducing inflation and, consequently, the average level of nominal interest rates has increased the likelihood that the nominal policy interest rate may become constrained by the zero lower bound. When that happens, a central bank can no longer stimulate aggregate demand by further interest-rate reductions and must ...  more »
ISBN-13: 9781607961055
ISBN-10: 1607961059
Publication Date: 3/23/2009
Pages: 120
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Publisher: www.bnpublishing.net
Book Type: Paperback
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