The article explores how different monetary policies can help stabilize the economy during a crisis. By using a model that includes credit, money, and reserve markets, the researchers found that when interest rates are stuck at zero, it creates a liquidity trap where traditional central bank tools are ineffective. They discovered that while quantitative easing can lessen the impact of a crisis, it may not fully restore the economy. However, combining quantitative and credit easing with a zero interest rate policy can stabilize the economy and make central bank communication more reliable during a crisis.