Arteta, Carlos, Kose, M Ayhan, Stocker, Marc, Taskin, Temel, (2016), “Negative interest rate policies: Channels and consequences”, VoxEu, 26 Σεπτεμβρίου
Against a background of persistently weak growth and low inflation expectations, a number of central banks have implemented negative interest rate policies over the past few years. This column argues that such policies could help provide additional monetary policy stimulus, as long as policy interest rates are only modestly negative and do not stay negative for too long to avoid adverse effects on the financial sector. While these policies do have a place in the policymaker’s toolkit, they need to be handled with care to secure their benefits while mitigating risks.
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- Demary, Markus, (2016), “Why the ECB is not to blame for low interest rates”, LSE Europpblog, 22 Αυγούστου
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