It is therefore a pleasure to be at this conference and I am looking forward to learning more about all the proposals presented today. 1  J. R. Hicks, 1935. “A Suggestion for Simplifying the Theory of Money” Economica, New Series, Vol. 2, No. 5 (Feb., 1935), pp.
1–19  BIS central bankers’ speeches  1  In my remarks, however, I will argue that while the effective lower bound for short-term rates exists, it does not in fact impose a binding constraint on the effectiveness of monetary policy.