Eliminating a deflationary trap through superinertial interest rate rules

Tomohiro Sugo, Kozo Ueda

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

This paper demonstrates that, even in the presence of a zero lower bound on nominal interest rates, central banks can eliminate a deflationary trap by the conduct of interest rate rules that have superinertia.

Original languageEnglish
Pages (from-to)119-122
Number of pages4
JournalEconomics Letters
Volume100
Issue number1
DOIs
Publication statusPublished - 2008 Jul 1
Externally publishedYes

Keywords

  • Deflationary trap
  • Superinertia
  • Taylor principle

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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