Published Journal of Money, Credit and Banking Online 12 Sep 2025 Published Sep 2026A Model of Post-2008 Monetary PolicyBehzad Diba · Olivier LoiselSince 2008 the US economy has gone through two zero-lower-bound (ZLB) episodes (Dec 2008–Dec 2015 and Mar 2020–Mar 2022). Standard New Keynesian (NK) and monetarist models struggle with three broad …