Browsing Norges Banks vitenarkiv by Subject "effective lower bound"
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Asymmetric monetary policy rules for the euro area and the US
(Working Paper;7/2021, Working paper, 2021)We analyse the implications of asymmetric monetary policy rules by estimating Markovswitching DSGE models for the euro area (EA) and the US. The estimations show that until mid-2014 the ECB's response to inflation was more ... -
Forecast Uncertainty in the Neighborhood of the Effective Lower Bound: How Much Asymmetry Should We Expect?
(Working Papers;13/2016, Working paper, 2016)The lower bound on interest rates has restricted the impact of conventional monetary policies over recent years and could continue to do so in the near future, with the decline in natural real rates not predicted to reverse ...