Zero lower bound and monetary policy in the euro area : optimal monetary policy in a low inflation environment / Lars Protze.

Format:

Book

Author/Creator:

Protze, Lars.

Language:

English

Subjects (All):

Monetary policy.

Physical Description:

1 online resource (180 p.)

Edition:

1st ed.

Place of Publication:

Hamburg : Diplomica Verlag, 2008.

Language Note:

English

Summary:

Central banks around the world try to influence economic activity by altering nominal interest rates which will have an effect on the real rate. However, this is only possible as long as interest rates are above zero. The case of Japan showed that monetary policy was helpless as nominal rates approached zero. This Book starts with an overview of monetary policy with the restriction that interest rates can not fall below zero. Then optimal monetary policy in a low inflation environment is treated. This is done by using a New Keynesian model with sticky prices. Therefore the model and the necess

Contents:

Zero Lower Bound andMonetary Policy in the Euro AreaOptimal Monetary Policy in aLow Inflation Environment; Table of contents; 1. Introduction; 2. Literature; 3. The Model; 4. Modelling the euro area economy; 5. How severe is the zero bound in the euro area?; 6. Discussion; 7. Conclusions; Appendix; Literature

Notes:

Title from cover.

Includes bibliographical references.

ISBN:

9783836614900

3836614901

OCLC:

679419255