The efficacy of the FOMC’s zero interest rate policy
Abstract: If investment spending is sufficiently insensitive to interest rate changes and the effect of Fed actions on interest rates is sufficiently weak, the net effect of the persistent zero interest rate policy could be negative.
File(s): File format is application/pdf http://research.stlouisfed.org/publications/es/12/ES_2012-09-04.pdf
Provider: Federal Reserve Bank of St. Louis
Part of Series: Economic Synopses
Publication Date: 2012Order Number: 23