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Bank of Canada RSS Feedsen2024-03-29T12:30:33+00:00Risk Premium Shocks and the Zero Bound on Nominal Interest Rates
https://www.bankofcanada.ca/2009/10/working-paper-2009-27/
There appears to be a disconnect between the importance of the zero bound on nominal interest rates in the real-world and predictions from quantitative DSGE models. Recent economic events have reinforced the relevance of the zero bound for monetary policy whereas quantitative models suggest that the zero bound does not constrain (optimal) monetary policy.2009-10-15T14:18:11+00:00enRisk Premium Shocks and the Zero Bound on Nominal Interest Rates2009-10-15Monetary policy frameworkWorking Paper 2009-27 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-27.pdfRisk Premium Shocks and the Zero Bound on Nominal Interest RatesRobert AmanoMalik ShukayevOctober 2009EE3E32E5E52