The optimal monetary policy rule under the non-negativity constraint on nominal interest rates

Tomohiro Sugo; Yuki Teranishi

doi:10.1016/j.econlet.2005.05.016

The optimal monetary policy rule under the non-negativity constraint on nominal interest rates

Tomohiro Sugo, Yuki Teranishi

研究成果: Article › 査読

12 被引用数 (Scopus)

抄録

We identify a monetary policy rule that remains optimal even in the presence of the non-negativity constraint on nominal interest rates. This rule also compensates for any past shortfalls in monetary easing during the zero interest rate period.

本文言語	English
ページ（範囲）	95-100
ページ数	6
ジャーナル	Economics Letters
巻	89
号	1
DOI	https://doi.org/10.1016/j.econlet.2005.05.016
出版ステータス	Published - 2005 10月 1
外部発表	はい

ASJC Scopus subject areas

財務
経済学、計量経済学

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10.1016/j.econlet.2005.05.016

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The optimal monetary policy rule under the non-negativity constraint on nominal interest rates

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