The zero lower bound in our minds

By R.A. | CHICAGO PRIOR to the crisis, there was a general (if tenuous) accord among macroeconomists of many different stripes, that the Federal Reserve could and would act to stabilise the economy when necessary. Then, in December of 2008, the Fed hit the zero lower bound, when it dropped its target for the federal funds rate to between 0% and 0.25%, where it has sat ever since. At the time, the

[maeda_a]

『心のゼロ金利下限：インフレ率をFRBが上げることはできないだって？お利口な経済学者たちが、なぜそんな風に思ってしまうんだろ』

[fujikumo]

ゼロ金利にしても、貸出が増えない状態、流動性の罠のときに私たちはどうするべきか。Paul Krugmanは、そのような状況では財政政策が有効だと提言。中央銀行がインフレ率を上げるために積極的に動く、という策はどうか