Przeglądaj według tematu "zero lower bound"

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    • Why may large economies suffer more at the zero lower bound? 

      Brzoza-Brzezina, Michał (2016-06)
      This paper compares the consequences of hitting the zero lower bound in small open and large closed economies. I costruct a two-economy New Kenynesian model and calibrate it so that one economy is small and open and the ...

    • Is Poland at risk of the zero lower bound? 

      Brzoza-Brzezina, Michał; Kolasa, Marcin; Szetela, Mateusz (2016-07)
      In early 2015, the policy (open market operations) rate of Narodowy Bank Polski was reduced to an all-time low of 1.5%. At the same time, prices of consumer goods and services dropped by 1.5% in year-on-year terms. This ...

    • The secular stagnation hypothesis and the future of Europe’s advanced economies 

      Tomeczek, Artur F. (2020)
      The secular stagnation hypothesis originated in the late 1930s when Alvin Hansen proposed that the American economy will experience a prolonged depression because of the slowdown in demographics. Widely discussed in the ...