Blar i Norges Banks vitenarkiv på emneord "zero lower bound on interest rates"
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The Zero Lower Bound on the Interest Rate and a Neo-Classical Phillips Curve
(Working Papers;13/2010, Working paper, 2010)With sticky prices, optimizing agents and money in the utility function, I derive the exact analytical solution for optimal monetary policy given a zero lower bound (ZLB) on the interest rate. The Phillips curve is ...