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Monetary Policy Accommodation at the Lower Bound

Monetary Policy Accommodation at the Lower Bound Abstract Monetary policy was too tight in many countries following the financial crisis, due to the lower bound on interest rates. This is likely to have prolonged the recession that followed. This point is illustrated with an assessment of monetary accommodation in the US since the financial crisis, and the accommodation achieved through negative interest rates in countries that have adopted these. The lower bound will likely give rise to considerable economic costs in the future, as it has in the recent past. There is an urgent need to consider how policy tools and frameworks should be adapted. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Business Economics Springer Journals

Monetary Policy Accommodation at the Lower Bound

Krogstrup, Signe
Business Economics , Volume 52 (1): 8 – Jan 1, 2017
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References (35)

Publisher
Springer Journals
Copyright
2017 National Association for Business Economics
ISSN
0007-666X
eISSN
1554-432X
DOI
10.1057/s11369-017-0031-7
Publisher site
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Abstract

Abstract Monetary policy was too tight in many countries following the financial crisis, due to the lower bound on interest rates. This is likely to have prolonged the recession that followed. This point is illustrated with an assessment of monetary accommodation in the US since the financial crisis, and the accommodation achieved through negative interest rates in countries that have adopted these. The lower bound will likely give rise to considerable economic costs in the future, as it has in the recent past. There is an urgent need to consider how policy tools and frameworks should be adapted.

Journal

Business Economics – Springer Journals

Published: Jan 1, 2017

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