The zero interest rate floor (ZIF) and its implications for monetary policy in Japan /

The zero interest rate floor (ZIF) and its implications for monetary policy in Japan /

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Bibliographic Details
Author / Creator:	Hunt, Ben, 1958-
Imprint:	[Washington, D.C.] : International Monetary Fund, Research Dept., ©2001.
Description:	1 online resource (36 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/01/186 IMF working paper ; WP/01/186.
Subject:	Interest rates -- Japan. Monetary policy -- Japan. Finance -- Japan. Liquidity (Economics) Uncertainty. Finance. Interest rates. Liquidity (Economics) Monetary policy. Uncertainty. Japan.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/13357165

Hidden Bibliographic Details
Other authors / contributors:	Laxton, Douglas. International Monetary Fund. Research Department.
ISBN:	1451904827 9781451904826
Notes:	Includes bibliographical references (pages 33-35). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : 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.
Summary:	This paper uses the IMF's macroeconomic model MULTIMOD to examine the implications of the zero-interest-rate floor (ZIF) for the design of monetary policy in Japan. Similar to findings in other studies, targeting rates of inflation lower than 2.0 percent significantly increases the likelihood of the ZIF becoming binding. Systematic monetary policy strategies that respond strongly to stabilize output and inflation, or that incorporate some explicit price-level component, can help to mitigate the implications of the ZIF.
Other form:	Print version: Hunt, Ben, 1958- Zero interest rate floor (ZIF) and its implications for monetary policy in Japan. [Washington, D.C.] : International Monetary Fund, Research Dept., ©2001
Standard no.:	10.5089/9781451904826.001

Description
Summary:	This paper uses the IMF's macroeconomic model MULTIMOD to examine the implications of the zero-interest-rate floor (ZIF) for the design of monetary policy in Japan. Similar to findings in other studies, targeting rates of inflation lower than 2.0 percent significantly increases the likelihood of the ZIF becoming binding. Systematic monetary policy strategies that respond strongly to stabilize output and inflation, or that incorporate some explicit price-level component, can help to mitigate the implications of the ZIF.
Physical Description:	1 online resource (36 pages) : illustrations
Format:	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.
Bibliography:	Includes bibliographical references (pages 33-35).
ISBN:	1451904827 9781451904826