TY  - GEN 
A1  - Florez-Jimenez, Maria Lucia
A1  - Parra-Polania, Julian Andres
DA  - 2014/03/03
PY  - 2014
UR  - https://repositorio.banrep.gov.co/handle/20.500.12134/6097
AB  - Using a three-equation New Keynesian model we find that incorporating an escape clause (EC) into Forward Guidance (FG) is welfare improving as it allows the monetary authority to avoid cases in which the cost of reduced flexibility is too high. The EC...
LA  - spa
PB  - Banco de la Republica
T3  - Borradores de Economia
JF  - Borradores de Economia; No. 811
M3  - Open Access
T1  - Forward guidance with an escape clause : when half a promise is better than a full one
KW  - E47 - Money and Interest Rates: Forecasting and Simulation: Models and Application
KW  - E58 - Central Banks and Their Policies
KW  - E52 - Monetary Policy
KW  - Forward guidance
KW  - Escape clause
KW  - Zero lower bound
KW  - Central bank communication
KW  - Comunicacion bancaria
KW  - Economia neokeynesiana
KW  - Politica monetaria
KW  - E58 - Bancos centrales y sus politicas
KW  - E47 - Dinero y tipos de interes: Prediccion y simulacion; Modelos y aplicacion
KW  - E52 - Politica monetaria
DO  - https://doi.org/10.32468/be.811
L1  - https://ideas.repec.org/p/bdr/borrec/811.html
ER  -