To Explain:
The unique difficulties that the monetary policymakers face at zero lower bound and how the non-conventional
Concept introduction:
Zero Lower Bound: It is a situation where the central bank of a country cannot lower the short-term nominal interest rates as the interest rate reaches or nears zero.
Non-Conventional Monetary Policy: A central bank usually alters its policy rate to stabilize the economy when it is faced by any supply or demand shock. The bank also uses liquidity interventions so that the short-term
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Chapter 24 Solutions
Economics of Money, Banking and Financial Markets, The, Business School Edition (5th Edition) (What's New in Economics)
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