In a symposium for the Fall 2018 edition of BPEA, Kristin Forbes, with the MIT-Sloan School, James Hamilton, University of California, San Diego, Eric Swanson, University of California Irvine, and Brookings Distinguished Fellow-in-Residence Janet Yellen discuss how policymakers should act during episodes where interest rates near the effective lower bound and what it could mean for central bankers’ ability to set monetary policy.

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