A Toolkit for Solving Models with a Lower Bound on Interest Rates of Stochastic Duration
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This paper presents a toolkit to solve for equilibrium in economies with the effective lower bound (ELB) on the nominal interest rate in a computationally efficient way under a special assumption about the underlying shock process, a two-state Markov process with an absorbing state. We illustrate
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美国国家经济研究局创建时间：
2020-10-01
