Grisse, Christian; Schumacher, Silvio - In: Swiss journal of economics and statistics 154 (2018) 1, pp. 1-17
This paper studies the transmission of changes in short-term interest rates to longer-term government bond yields when interest rates are at very low levels or negative. We focus on Switzerland, where short-term interest rates have been at zero since late 2008 and negative since the beginning of...
