Inflation targeting and the liquidity trap
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Date
2002
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Banco Central de Chile
Abstract
Description
This paper considers whether issues regarding liquidity trap or zero lower bound phenomena substantially affect the case for inflation targeting, in comparison with other possible strategies for conducting monetary policy. It examines both theoretical and empirical issues and, in the latter case, emphasizes the importance of an economy's openness to foreign trade in goods and securities.
Keywords
INFLACIÓN, LIQUIDEZ (ECONOMÍA), POLÍTICA MONETARIA