The Effects of Forward Guidance in Three Macro Models
Posted: 22 Oct 2015
Date Written: February 26, 2015
With the federal funds rate at its effective zero lower bound since the end of 2008, much attention has been focused on estimating the effects of "unconventional" monetary policy actions, such as large-scale asset purchases or explicit forward guidance concerning the future path of the funds rate.
Suggested Citation: Suggested Citation