Comment on: Using a long-term interest rate as the monetary policy instrument
成果类型：
Editorial Material
署名作者：
Woodford, M
署名单位：
Columbia University
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/j.jmoneco.2005.07.004
发表日期：
2005
页码：
881-887
关键词：
摘要：
The use of a long-term interest rate as the instrument of monetary policy would not have the advantage, sometimes claimed for it, of relaxing the constraint on what can be achieved by monetary policy when the zero lower bound on short-term interest rates is reached. The proposal would also seem an impractical one to implement. (c) 2005 Elsevier B.V. All rights reserved.
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