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Optimal monetary policy mix at the zero lower bound. (2021). Oh, Joonseok ; Bonciani, Dario.
In: Bank of England working papers.
RePEc:boe:boeewp:0945.

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Cited: 3

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Cites: 35

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Cocites: 31

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Citations received by this document

  1. Unconventional Monetary Policy and Inequality. (2022). Seccareccia, Marialaura ; Nistico, Salvatore.
    In: Working Papers.
    RePEc:saq:wpaper:7/22.

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  2. Into the Universe of Unconventional Monetary Policy: State-dependence, Interaction and Complementarities. (2022). Zlobins, Andrejs.
    In: Working Papers.
    RePEc:ltv:wpaper:202205.

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  3. A Behavioral Heterogeneous Agent New Keynesian Model. (2022). Pfäuti, Oliver ; Seyrich, Fabian ; Pfauti, Oliver.
    In: Discussion Papers of DIW Berlin.
    RePEc:diw:diwwpp:dp1995.

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References

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  9. Bilbiie, Florin O., “Limited Asset Market Participation, Monetary Policy and (Inverted) Aggregate Demand Logic,” Journal of Economic Theory, 2008, 140, 162–196.

  10. Bonciani, Dario and Joonseok Oh, “Revisiting the New Keynesian Policy Paradoxes under QE,” 2021. Bank of England Staff Working Paper No. 908.

  11. Boneva, Lena Mareen, R. Anton Braun, and Yuichiro Waki, “Some Unpleasant Properties of Loglinearized Solutions When the Nominal Rate Is Zero,” Journal of Monetary Economics, 2016, 84, 216–232.
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  19. Debortoli, Davide, Jinill Kim, Jesper Lindé, and Ricardo Nunes, “Designing a Simple Loss Function for Central Banks: Does a Dual Mandate Make Sense?,” Economic Journal, 2019, 129 (621), 2010–2038.
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  23. good i as D Pt(i), PI , Pt, Yt . t ∗ As in Calvo (1983), a fraction 1 − φ of randomly picked firms can reset their price. Let P be the optimal t reset price in period t. A supplier that changes its price in period t chooses its newly-adjusted price Pt(i) to maximise the its expected discounted lifetime profits, taking as given the industry level wage WI , expressed in terms of PI : t X ∞ j=0 The first-order condition for optimal price setting is: D Pt(i), Pt I +j, Pt+j, Yt+j φj Λt,t+j Et , (A.27) Pt+j ⎛ ⎛ ⎞ ⎞ −ε χ P I Yt+j t+j At+j Pt+j 1 − z ⎜ ⎜ ⎜ ⎝ (1 − ε) 1−ε Yt+j + ε (1 − τ) ψ ⎜ ⎜ ⎜ ⎝ −ε ⎟ ⎟ ⎟ ⎠⎟ ⎟ ⎟ ⎠Et ∞ X j=0 φj Λt,t+j ∗ t P∗ t P Yt+j σ Cs,t+j = 0.
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  30. Nakata, Taisuke, “Uncertainty at the Zero Lower Bound,” American Economic Journal: Macroeconomics, 2017, 9 (3), 186–221.

  31. Nakov, Anton, “Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate,” International Journal of Central Banking, 2008, 4 (2), 73–127.

  32. Nisticò, Salvatore, “Optimal Monetary Policy and Financial Stability in a Non-Ricardian Economy,” Journal of the European Economic Association, 2016, 14 (5), 1225–1252.
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  33. Sims, Eric and Jing Cynthia Wu, “Are QE and Conventional Monetary Policy Substitutable?,” International Journal of Central Banking, 2020, 16 (1), 195–230.

  34. Svensson, Lars E.O., “Inflation Targeting,” in Benjamin M. Friedman and Michael Woodford, eds., Handbook of Monetary Economics, Vol. 3 of Handbook of Monetary Economics, Elsevier, 2010, chapter 22, pp. 1237–1302.

  35. Woodford, Michael, “Fiscal Requirements for Price Stability,” Journal of Money, Credit and Banking, 2001, 33 (3), 669–728.

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  2. Average inflation targeting and the interest rate lower bound. (2023). Schmidt, Sebastian ; Nakata, Taisuke ; Budianto, Flora.
    In: European Economic Review.
    RePEc:eee:eecrev:v:152:y:2023:i:c:s0014292123000132.

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  3. Credible Forward Guidance. (2023). Sunakawa, Takeki ; Nakata, Taisuke ; Batista, Quentin.
    In: Journal of Economic Dynamics and Control.
    RePEc:eee:dyncon:v:153:y:2023:i:c:s0165188923001057.

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  4. Monetary policy strategies for the euro area: optimal rules in the presence of the ELB. (2023). Mazelis, Falk ; Ristiniemi, Annukka ; Motto, Roberto.
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  5. Can Discounting Alone Resolve the Forward Guidance Puzzle?. (2022). Ji, Yangyang.
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  6. State-Contingent Forward Guidance. (2022). Jouvanceau, Valentin ; Moyen, Stephane ; Albertini, Julien.
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  7. State-Contingent Forward Guidance. (2022). Moyen, Stephane ; Jouvanceau, Valentin ; Albertini, Julien.
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  8. Estimating a Behavioral New Keynesian Model with the Zero Lower Bound. (2022). Ueda, Kozo ; Iiboshi, Hirokuni ; Hirose, Yasuo ; Shintani, Mototsugu.
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  10. A Toolkit for Computing Constrained Optimal Policy Projections (COPPs). (2021). Ristiniemi, Annukka ; Motto, Roberto ; Mazelis, Falk ; de Groot, Oliver ; DeGroot, Oliver .
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  11. Optimal irreversible monetary policy. (2021). Hasui, Kohei ; Kobayashi, Teruyoshi ; Sugo, Tomohiro.
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  12. Optimal irreversible monetary policy. (2021). Hasui, Kohei ; Kobayashi, Teruyoshi ; Sugo, Tomohiro.
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  13. Optimal monetary policy mix at the zero lower bound. (2021). Oh, Joonseok ; Bonciani, Dario.
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  14. Unemployment risk, liquidity traps and monetary policy. (2021). Oh, Joonseok ; Bonciani, Dario.
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  15. Revisiting the New Keynesian policy paradoxes under QE. (2021). Oh, Joonseok ; Bonciani, Dario.
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  17. The interaction of forward guidance in a two-country new Keynesian model. (2021). Iiboshi, Hirokuni ; Ida, Daisuke.
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  19. Average inflation targeting and the interest rate lower bound. (2020). Schmidt, Sebastian ; Budianto, Flora ; Nakata, Taisuke.
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  20. Average Inflation Targeting and the Interest Rate Lower Bound. (2020). Budianto, Flora ; Nakata, Taisuke ; Schmidt, Sebastian.
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  21. Average Inflation Targeting and the Interest Rate Lower Bound. (2020). Schmidt, Sebastian ; Nakata, Taisuke ; Budianto, Flora.
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  22. Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve’s Current Policy Toolkit. (2020). Gagnon, Etienne ; Trevino, James ; Schlusche, Bernd ; Paustian, Matthias ; Nakata, Taisuke ; Chung, Hess ; Zheng, Wei ; Viln, Diego.
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  23. Average inflation targeting and the interest rate lower bound. (2020). Budianto, Flora ; Schmidt, Sebastian ; Nakata, Taisuke.
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  24. Irreversible monetary policy at the zero lower bound. (2019). Hasui, Kohei ; Kobayashi, Teruyoshi ; Sugo, Tomohiro.
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  25. The FR-BDF Model and an Assessment of Monetary Policy Transmission in France, Working Paper Series no. 736, Banque de France. (2019). Lemoine, Matthieu ; Aldama, Pierre ; Antoine, Lepetit ; Mohammed, Chahad ; Harri, Turunen ; Laffargue, Jean-Pierre ; Pierrick, Clerc ; Anastasia, Zhutova.
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  26. The FR-BDF Model and an Assessment of Monetary Policy Transmission in France, Working Paper Series no. 736, Banque de France. (2019). Matthieu, Lemoine ; Pierrick, Clerc ; Laffargue, Jean-Pierre ; Harri, Turunen ; Mohammed, Chahad ; Antoine, Lepetit ; Anastasia, Zhutova.
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