Global Imbalances and Policy Wars at the Zero Lower Bound
<jats:title>Abstract</jats:title> <jats:p>This article explores the consequences of extremely low real interest rates in a world with integrated but heterogeneous capital markets, nominal rigidities, and an effective lower bound [a zero lower bound (ZLB) for simplicity]. We establi...
Main Authors: | Caballero, Ricardo J (Author), Farhi, Emmanuel (Author), Gourinchas, Pierre-Olivier (Author) |
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Format: | Article |
Language: | English |
Published: |
Oxford University Press (OUP),
2022-08-26T12:01:59Z.
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Subjects: | |
Online Access: | Get fulltext |
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