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Author Hunt, Ben, 1958-

Title The zero interest rate floor (ZIF) and its implications for monetary policy in Japan / Benjamin Hunt and Douglas Laxton
Published [Washington, D.C.] : International Monetary Fund, Research Dept., [2001]
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Description 1 online resource (36 pages) : illustrations
Series IMF working paper ; WP/01/186
IMF working paper ; WP/01/186
Summary This paper uses the IMF's macroeconomic model MULTIMOD to examine the implications of the zero-interest-rate floor (ZIF) for the design of monetary policy in Japan. Similar to findings in other studies, targeting rates of inflation lower than 2.0 percent significantly increases the likelihood of the ZIF becoming binding. Systematic monetary policy strategies that respond strongly to stabilize output and inflation, or that incorporate some explicit price-level component, can help to mitigate the implications of the ZIF
Bibliography Includes bibliographical references (pages 33-35)
Notes 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. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Finance -- Japan.
Interest rates -- Japan.
Liquidity (Economics)
Monetary policy -- Japan.
Form Electronic book
Author Laxton, Douglas.
International Monetary Fund. Research Department.
ISBN 1451904827