The Effective Lower Bound for the Policy Rate in Euroized Economies-An Application to the Case of Albania »
Series: IMF Working Papers
Author(s): Guido della Valle , Erald Themeli , Romain Veyrune , Ezequiel Cabezon , and Shaoyu Guo
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 13 March 2018
Keywords: Monetary policy, Europe, Albania, interest rate lower bound, euroization, Monetary Policy (Targets, Instruments, and Effects), Albania
Based on the experience of the Bank of Albania, the paper proposes a framework to estimate the interest rate lower bound in small, open, and euroized economies. The paper introduces a stylized monitoring tool to as...