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Global liquidity trap

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Fujiwara, Ippei; Nakajima, Tomoyuki; Sudo, Nao; Teranishi, Yuki

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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

dc.contributor.authorFujiwara, Ippei
dc.contributor.authorNakajima, Tomoyuki
dc.contributor.authorSudo, Nao
dc.contributor.authorTeranishi, Yuki
dc.date.accessioned2015-12-13T22:32:37Z
dc.identifier.issn0304-3932
dc.identifier.urihttp://hdl.handle.net/1885/75649
dc.description.abstractHow 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
dc.publisherElsevier
dc.sourceJournal of Monetary Economics
dc.titleGlobal liquidity trap
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume60
dc.date.issued2013
local.identifier.absfor140200 - APPLIED ECONOMICS
local.identifier.ariespublicationf5625xPUB4728
local.type.statusPublished Version
local.contributor.affiliationFujiwara, Ippei, College of Asia and the Pacific, ANU
local.contributor.affiliationNakajima, Tomoyuki, Kyoto University
local.contributor.affiliationSudo, Nao, Bank of Japan
local.contributor.affiliationTeranishi, Yuki, Keio University
local.description.embargo2037-12-31
local.bibliographicCitation.issue8
local.bibliographicCitation.startpage936
local.bibliographicCitation.lastpage949
local.identifier.doi10.1016/j.jmoneco.2013.08.004
dc.date.updated2015-12-11T09:08:54Z
local.identifier.scopusID2-s2.0-84888379553
local.identifier.thomsonID000328870900004
CollectionsANU Research Publications

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