To broaden the operational scope of monetary policy, several authors suggest cash abolishment as an appropriate means of breaking through the zero lower bound. The key question in this respect is: What are the costs of such a proposal? We argue that the welfare costs of bypassing the zero lower...

Die repressive Niedrigzinspolitik der EZB führt nach unseren Berechnungen zu geschätzten Zinsverlusten für die deutschen Sparer in einer Größenordnung von 70 Mrd. € pro Jahr. Die Zinsverluste sind höher als die finanziellen Belastungen durch Kapitalertragsteuer und Güterpreisinflation....

To broaden the operational scope of monetary policy, several authors suggest cash abolishment as an appropriate means of breaking through the zero lower bound. The key question in this respect is: What are the costs of such a proposal? We argue that the welfare costs of bypassing the zero lower...

To broaden the operational scope of monetary policy, several authors suggest cash abolishment as an appropriate means of breaking through the zero lower bound. The key question in this respect is: What are the costs of such a proposal? We argue that the welfare costs of bypassing the zero lower...

Die repressive Niedrigzinspolitik der EZB führt nach unseren Berechnungen zu geschätzten Zinsverlusten für die deutschen Sparer in einer Größenordnung von 70 Mrd. € pro Jahr. Die Zinsverluste sind höher als die finanziellen Belastungen durch Kapitalertragsteuer und Güterpreisinflation....

To broaden the operational scope of monetary policy, several authors suggest cash abolishment as an appropriate means of breaking through the zero lower bound. The key question in this respect is: What are the costs of such a proposal? We argue that the welfare costs of bypassing the zero lower...