Credible Commitment to Optimal Escape from a Liquidity Trap: The Role of the Balance Sheet of an Independent Central Bank
September 1, 2004
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Format: Chicago
Summary
Subject: Asset and liability management, Banking, Capital adequacy requirements, Currencies, Exchange rates, Financial regulation and supervision, Foreign exchange, Inflation, Liquidity, Money, Prices
Keywords: Balance-sheet concern, Budget constraint, Capital adequacy requirements, Central-bank capital, Currencies, Deflation, Exchange rates, Inflation, Liquidity, Mover accent, Optimization problem, Output gap, Price level, WP, Zero lower bound for interest rates
Publication Details
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Pages:
44
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Volume:
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DOI:
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Issue:
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Series:
Working Paper No. 2004/162
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Stock No:
WPIEA1622004
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ISBN:
9781451857900
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ISSN:
1018-5941