Research Article
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Article title
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Abstract
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Keywords
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1. Introduction
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2. Monetary policy in a liquidity trap
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2.1. Negative interest rate policy
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2.2. Large-scale asset purchases by central banks
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2.3. Using forward guidance on policy changes
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3. The problem of time-inconsistency of optimal policy
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3.1. Changing the central bank’s targets
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3.2. Shaping expectations through accumulating non-indexed debt
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3.3. Shaping expectations through devaluing the domestic currency
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3.4. Shaping expectations under recurring crises
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4. Conclusion
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Acknowledgements
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References
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