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Effective-Lower-Bound
Effective-Lower-Bound
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Review of Economic Studies
Online 9 Jun 2026
Liquidity Traps, Prudential Policies, and International SpilloversJavier Bianchi · Louphou Coulibaly
The paper develops a tractable open-economy New Keynesian model with nominal rigidities and an occasionally binding zero lower bound (ZLB) to study how monetary policy and macroprudential policy …
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Journal of Money, Credit and Banking
Online 15 Sep 2025
Monetary Policy and the Drifting Natural Rate of InterestSandra Daudignon · Oreste Tristani
This paper analyzes how monetary policy should respond to a long-run natural interest rate that can drift permanently — following a bounded random walk with upper bound 3 percent and lower bound 0 …