Lower for longer: The case of the ECB
研究指出零利率附近货币政策效果不对称，通过匹配欧洲央行决策与简单预测反应函数，发现2013年开始的宽松政策偏离了常规，体现了“更长时间的低利率”策略。
Research has suggested that monetary policy acts asymmetrically near zero interest rates. We match past ECB decisions with a simple forecast-based reaction function. The policy easing that started in 2013 has led to a deviation indicating a “lower for longer” approach.