Expectations, deflation traps and macroeconomic policy

Twenty Years of Inflation Targeting: Lessons Learned and Future Prospects

Volumn , Issue , 2010, Pages 232-260

  Evans, George W ^a   Honkapohja, Seppo ^b  

^a Oregon University System   (United States)

^b BANK OF FINLAND   (Finland)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 77957669277     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.1017/CBO9780511779770.011     Document Type: Chapter

References (21)

1. Adam, K., and R. Billi (2007). ‘Discretionary monetary policy and the zero lower bound on nominal interest rates’, Journal of Monetary Economics, 54(3): 728-52.
2. Benhabib, J., S. Schmitt-Grohe and M. Uribe (2001). ‘The perils of Taylor rules’, Journal of Economic Theory, 96(1-2): 40-69.
3. Benhabib, J., S. Schmitt-Grohe and M. Uribe (2002). ‘Avoiding liquidity traps’, Journal of Political Economy, 110(3): 535-63.
4. Coenen, G., A. Orphanides and V. Wieland (2004). ‘Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero’, B. E. Journal of Macroeconomics, 4: article 1.
5. Eggertsson, G., and M. Woodford (2003). ‘The zero bound on interest rates and optimal monetary policy’, Brookings Papers on Economic Activity, 1: 139-211.
6. Eusepi, S., and B. Preston (2007). ‘Central bank communication and expectations stabilization’. Working Paper no. 13259. Cambridge, MA: NBER.
7. Evans, G., E. Guse and S. Honkapohja (2008). ‘Liquidity traps, learning and stagnation’, European Economic Review, 52(8): 1438-63.
8. Evans, G., and S. Honkapohja (2001). Learning and Expectations in Macroeconomics. Princeton, NJ: Princeton University Press.
9. (2005). ‘Policy interaction, expectations and the liquidity trap’, Review of Economic Dynamics, 8(2): 303-23.
10. (2009). ‘Learning and macroeconomics’, Annual Review of Economics, 1: 421-51.
11. Evans, G., S. Honkapohja and K. Mitra (2007). ‘Anticipated fiscal policy and adaptive learning’. Working Paper no. 0717. Fife: Centre for Dynamic Macroeconomic Analysis, University of St Andrews.
12. Evans, G., S. Honkapohja and P. Romer (1998). ‘Growth cycles’, American Economic Review, 88(3): 495-515.
13. Krugman, P. (1998). ‘It’s baaack: Japan’s slump and the return of the liquidity trap’, Brookings Papers on Economic Activity, 2: 137-205.
14. Leeper, E. (1991). ‘Equilibria under "active" and " passive" monetary and fiscal policies’, Journal of Monetary Economics, 27(1): 129-47.
15. Marcet, A., and T. Sargent (1989). ‘Convergence of least-squares learning mechanisms in self-referential linear stochastic models’, Journal of Economic Theory, 48(2): 337-68.
16. Preston, B. (2005). ‘Learning about monetary policy rules when long-horizon expectations matter’, International Journal of Central Banking, 1(2): 81-126.
17. (2006). ‘Adaptive learning, forecast-based instrument rules and monetary policy’, Journal of Monetary Economics, 53(3): 507-35.
18. Rotemberg, J. (1982). ‘Sticky prices in the United States’, Journal of Political Economy, 90(6): 1187-211.
19. Sargent, T. (2008). ‘Evolution and intelligent design’, American Economic Review, 98(1): 5-37.
20. Svensson, L. (2003). ‘Escaping from a liquidity trap and deflation: the foolproof way and others’, Journal of Economic Perspectives, 17(4): 145-66.
21. Wallace, N. (1981). ‘A Modigliani-Miller theorem for open-market operations’, American Economic Review, 71(3): 267-74.