Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/103958 
Autor:innen: 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
Economics Discussion Papers No. 2014-47
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
This study analyzes the emergence of secular stagnation as the consequence of a rise in the preference for liquidity. Such a rise is caused by a persistent set of pessimistic expectations. This study also investigates the effectiveness of a broad range of demand-management policies in dealing with secular stagnation. To obtain these results, this study uses a model where agents derive utility from holding assets of different degrees of liquidity. In this environment, rational expectations interact with changes in market sentiment, to produce secular stagnation.
Schlagwörter: 
helicopter money
liquidity preference
market sentiment
quantitative easing
pessimistic (optimistic) expectations
utility analysis
JEL: 
E2
E3
E4
E5
E61
E62
E63
G11
G12
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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