Series: IMF Working Papers
Author(s): Margaux MacDonald , and Micha? Ksawery Popiel
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2017
Keywords: Central banks and their policies, Small open economy; unconventional monetary policy; Bayesian structural VAR; zero lower bound; international monetary policy transmission, Small open economy, unconventional monetary policy, Bayesian structural VAR, zero lower bound, international monetary policy transmission, Monetary Policy (Targets, Instruments, and Effects)
This paper investigates the effects of unconventional monetary policy in a small open economy. Using recently proposed shadow interest rates to capture unconventional monetary policy at the zero lower bound (ZLB) w...