Global liquidity trap

Ippei Fujiwara, Tomoyuki Nakajima, Nao Sudo, Yuki Teranishi

    Research output: Contribution to journalArticle


    How should monetary policy respond to a "global liquidity trap," where the two countries may fall into a liquidity trap simultaneously? Using a two-country New Open Economy Macroeconomics model, we first characterize optimal monetary policy, and show that
    Original languageEnglish
    Pages (from-to)936-949
    JournalJournal of Monetary Economics
    Issue number8
    Publication statusPublished - 2013


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