Hidden Bibliographic Details
Other authors / contributors: | Svensson, Lars E. O., author.
International Monetary Fund. Research Department, issuing body.
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ISBN: | 1451903065 9781451903065 9781451857900 145185790X
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ISSN: | 2227-8885
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Notes: | Includes bibliographical references. Restrictions unspecified Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
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Summary: | An independent central bank can manage its balance sheet and its capital so as to commit itself to a depreciation of its currency and an exchange rate peg. This way, the central bank can implement the optimal escape from a liquidity trap, which involves a commitment to higher future inflation. This commitment mechanism works even though, realistically, the central bank cannot commit itself to a particular future money supply. It supports the feasibility of Svensson's Foolproof Way to escape from a liquidity trap.
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Other form: | Print version: Jeanne, Olivier. Credible commitment to optimal escape from a liquidity trap. [Washington D.C.] : International Monetary Fund, ©2004
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Standard no.: | 10.5089/9781451903065.001
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