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The impact of negative interest rates on banks and firms

Carlo Altavilla, Lorenzo Burlon, Mariassunta Giannetti, Sarah Holton, (2019), «The impact of negative interest rates on banks and firms», VoxEU, 8 Νοεμβρίου

Economists and policymakers continue to question the effectiveness of monetary policy when an economy faces near-zero or sub-zero interest rates. Sceptics argue that central banks cannot stimulate lending, and may indeed decrease the loan supply, by setting negative interest rates.

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