Coverart for item
The Resource Credible commitment to optimal escape from a liquidity trap : the role of the balance sheet of an independent central bank, prepared by Olivier Jeanne and Lars E.O. Svensson

Credible commitment to optimal escape from a liquidity trap : the role of the balance sheet of an independent central bank, prepared by Olivier Jeanne and Lars E.O. Svensson

Label
Credible commitment to optimal escape from a liquidity trap : the role of the balance sheet of an independent central bank
Title
Credible commitment to optimal escape from a liquidity trap
Title remainder
the role of the balance sheet of an independent central bank
Statement of responsibility
prepared by Olivier Jeanne and Lars E.O. Svensson
Creator
Contributor
Author
Issuing body
Subject
Genre
Language
eng
Summary
An independent central bank can manage its balance sheet and its capital so as to commit itself to a depreciation of its currency and an exchange rate peg. This way, the central bank can implement the optimal escape from a liquidity trap, which involves a commitment to higher future inflation. This commitment mechanism works even though, realistically, the central bank cannot commit itself to a particular future money supply. It supports the feasibility of Svensson's Foolproof Way to escape from a liquidity trap
Member of
Action
digitized
Cataloging source
OCLCE
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Jeanne, Olivier
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 no.04/162 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Svensson, Lars E. O.
  • International Monetary Fund
Series statement
IMF Working Paper,
Series volume
WP/04/162
http://library.link/vocab/subjectName
  • Bank liquidity
  • Banks and banking, Central
  • Deflation (Finance)
  • Bank liquidity
  • Interest rates
  • Bank liquidity
  • Banks and banking, Central
  • Deflation (Finance)
  • Interest rates
Label
Credible commitment to optimal escape from a liquidity trap : the role of the balance sheet of an independent central bank, prepared by Olivier Jeanne and Lars E.O. Svensson
Instantiates
Publication
Copyright
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • ""Contents""; ""I. INTRODUCTION""; ""II. A SIMPLE OPEN ECONOMY MODEL OF THE LIQUIDITY TRAP""; ""A. The Structure of the Economy""; ""B. Equilibrium Relationships""; ""C. Productivity""; ""D. Monetary Policy""; ""E. A Liquidity Trap in Period 1""; ""F. The Optimal Policy Under Commitment""; ""G. Implementing the Commitment Equilibrium""; ""III. THE BALANCE- SHEET CONCERNS OF CENTRAL BANKS""; ""IV. HOW AN INDEPENDENT CENTRAL BANK CAN COMMIT TO A FUTURE PRICE LEVEL""; ""V. GENERALIZATIONS""; ""A. A Multiperiod Liquidity Trap""; ""B. Generalizing the Capital Constraint""
  • ""C. Pegging the Price of Other Assets than Foreign Exchange""""VI. CONCLUSIONS""; ""Appendices""; ""I. First-Order Conditions""; ""II. Derivation of Equation (12)""; ""III. Households and Firms Perceiving a Positive Probability of a Liquidity Trap""; ""IV. Central-Bank Assets Including Domestic Credit""; ""REFERENCES""
Control code
646975131
Dimensions
unknown
Extent
1 online resource (43 pages)
Form of item
online
Isbn
9781451903065
Issn
2227-8885
Level of compression
  • lossless
  • lossy
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451903065.001
Other physical details
illustrations
Reformatting quality
  • preservation
  • access
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • imfWPIEA1622004
  • (IMF)WPIEA1622004
  • (OCoLC)646975131
System details
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.
Label
Credible commitment to optimal escape from a liquidity trap : the role of the balance sheet of an independent central bank, prepared by Olivier Jeanne and Lars E.O. Svensson
Publication
Copyright
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • ""Contents""; ""I. INTRODUCTION""; ""II. A SIMPLE OPEN ECONOMY MODEL OF THE LIQUIDITY TRAP""; ""A. The Structure of the Economy""; ""B. Equilibrium Relationships""; ""C. Productivity""; ""D. Monetary Policy""; ""E. A Liquidity Trap in Period 1""; ""F. The Optimal Policy Under Commitment""; ""G. Implementing the Commitment Equilibrium""; ""III. THE BALANCE- SHEET CONCERNS OF CENTRAL BANKS""; ""IV. HOW AN INDEPENDENT CENTRAL BANK CAN COMMIT TO A FUTURE PRICE LEVEL""; ""V. GENERALIZATIONS""; ""A. A Multiperiod Liquidity Trap""; ""B. Generalizing the Capital Constraint""
  • ""C. Pegging the Price of Other Assets than Foreign Exchange""""VI. CONCLUSIONS""; ""Appendices""; ""I. First-Order Conditions""; ""II. Derivation of Equation (12)""; ""III. Households and Firms Perceiving a Positive Probability of a Liquidity Trap""; ""IV. Central-Bank Assets Including Domestic Credit""; ""REFERENCES""
Control code
646975131
Dimensions
unknown
Extent
1 online resource (43 pages)
Form of item
online
Isbn
9781451903065
Issn
2227-8885
Level of compression
  • lossless
  • lossy
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451903065.001
Other physical details
illustrations
Reformatting quality
  • preservation
  • access
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • imfWPIEA1622004
  • (IMF)WPIEA1622004
  • (OCoLC)646975131
System details
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.

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