Browsing BI Open by Subject "Zero Lower Bound, Regime-switching, DSGE, Bayesian Estimation"
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Implementing the Zero Lower Bound in an Estimated Regime-Switching DSGE Model
(CAMP Working Paper Series;3/2016, Working paper, 2016)The Zero Lower Bound (ZLB) on policy rates is one of the key monetary policy issues du jour. In this paper we investigate the problem of modelling and estimating the ZLB in a simple New Keynesian model with regime switches. ...