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Zero Lower Bound and Monetary Policy in the Euro AreaOptimal Monetary Policy in a Low Inflation Environment. E-book. Formato PDF
Lars Protze
edizioni Diplomica Verlag collana , 2008
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...