The Zero Interest Rate Floor (ZIF) and its Implications for Monetary Policy in Japan

The Zero Interest Rate Floor (ZIF) and its Implications for Monetary Policy in Japan
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... READ MORE...

Publication date: November 2001
ISBN 9781451859461
$15.00

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