TY  - RPRT
AU  - Palacio Vera, Alfonso
PY  - 2005
DO  - b21779521
SN  - 2255-5471
UR  - https://hdl.handle.net/20.500.14352/56573
AB  - Conventional explanations of how a growing potential output generates an equi-proportional increase in aggregate demand in the long run usually rely on the real balance effect. Yet this mechanism has a negligible size and an uncertain sign. We present...
LA  - eng
A3  - Facultad de Ciencias Económicas y Empresariales, Universidad Complutense de Madrid
KW  - Bancos centrales
KW  - Política macroeconómica.
KW  - Neutral and warranted real interest rate
KW  - Liquidity trap
KW  - Growth trap
KW  - inflation
KW  - Monetary policy.
TI  - Liquidity and growth traps: a framework for the analysis of macroeconomic policy in the 'age' of central banks
TY  - technical report
VL  - 2005
ER  -