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Paul Robin Krugman is an American economist who is the Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times. In 2008, Krugman was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.
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The Zero Lower Bound (ZLB) or Zero Nominal Lower Bound (ZNLB) is a macroeconomic problem that occurs when the short-term nominal interest rate is at or near zero, causing a liquidity trap and limiting the capacity that the central bank has to stimulate economic growth.
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Gauti Bergþóruson Eggertsson is a professor of economics at Brown University.
References
- ↑ Eggertsson, Gauti B.; Krugman, Paul (14 February 2011), Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach (PDF), archived from the original (PDF) on 3 October 2011, retrieved 15 December 2011
- ↑ Eggertsson, Gauti (Feb 2010). "The Paradox of Toil" (PDF). NY Fed Staff Report. New York, NY: Federal Reserve Bank of New York (433). Retrieved 2011-12-15.
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