The Zero Bound on Interest Rates and Optimal Monetary Policy

The General Theory of Employment, Interest and Money.

1936 • 14,151 citations

Discretion versus policy rules in practice

1993 • 9,049 citations

Rules Rather than Discretion: The Inconsistency of Optimal Plans

1977 • 7,667 citations

The General Theory of Employment, Interest and Money, by John Maynard Keynes

1936 • 6,848 citations

INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY

2005 • 6,206 citations

The Science of Monetary Policy: A New Keynesian Perspective

1999 • 5,015 citations

Inflation dynamics: A structural econometric analysis

1999 • 3,079 citations

An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy

1997 • 1,801 citations

It's Baaack: Japan's Slump and the Return of the Liquidity Trap

1998 • 1,761 citations

Optimal monetary policy inertia

1999 • 755 citations

The Perils of Taylor Rules

2001 • 648 citations

Near-Rational Wage and Price Setting and the Long-Run Phillips Curve

2000 • 540 citations

Money and Growth: The Case of Long Run Perfect Foresight

1974 • 506 citations

A Modigliani-Miller Theorem for Open-Market Operations

1979 • 497 citations

Keynes, John Maynard

2001 • 490 citations

Three Lessons for Monetary Policy in a Low-Inflation Era

2000 • 482 citations

Inflation Policy and Unemployment Theory.

1973 • 290 citations

Overcoming the Zero Bound on Interest Rate Policy

2000 • 269 citations

Optimal Inflation-Targeting Rules

2004 • 246 citations

Monetary Policy When the Nominal Short-Term Interest Rate is Zero

2003 • 229 citations

Japanese Monetary Policy: A Case of Self-Induced Paralysis?

2000 • 225 citations

The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap

2001 • 215 citations

Deflation: making sure \"it\" doesn't happen here

2002 • 211 citations

The Natural Economic Order

1934 • 201 citations

Pitfalls of Forward-Looking Monetary Policy

2000 • 191 citations

Optimal Interest-Rate Rules: I. General Theory

2003 • 152 citations

The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan

2003 • 137 citations

Why are central banks pursuing long-run price stability?

1996 • 128 citations

Real Implications of the Zero Bound on Nominal Interest Rates

2005 • 128 citations

Liquidity Traps: How to Avoid Them and How to Escape Them

1999 • 121 citations

Monetary Policy and Open Market Operations during 1994

1994 • 113 citations

Price Level Determinacy and Monetary Policy under a Balanced Budget Requirement

1997 • 83 citations

Monetary Policy in Deflation: The Liquidity Trap in History and Practice

2003 • 75 citations

Portfolio Crowding-Out, Empirically Estimated

1985 • 70 citations

The effect of the increase in monetary base on Japan's economy at zero interest rates : an empirical analysis

2002 • 65 citations

Zero bound on nominal interest rates and optimal monetary policy

2001 • 56 citations

Does Debt Management Matter?

1994 • 47 citations

How to Fight Deflation in a Liquidity Trap: Committing to Being Irresponsible

2003 • 47 citations

Pushing on a String

2003 • 46 citations

Short Rate Expectations, Term Premiums, and Central Bank Use of Derivatives to Reduce Policy Uncertainty

1998 • 43 citations

The Effect of Federal Debt-Management Policy on Corporate Bond and Equity Yields

1982 • 36 citations

Commentary : Is there a role for discretionary fiscal policy?

2002 • 33 citations

Panel discussion: price stability; How should long-term monetary policy be determined?

1991 • 32 citations

The Case for Open-Market Purchases in a Liquidity Trap

2004 • 31 citations

Should We be Afraid of Friedman's Rule?

2000 • 16 citations

Do Excess Holding-Period Returns Depend on the Composition of Outstanding Federal Debt?

1996 • 13 citations