Does the lending channel of monetary policy operate under a negative interest rate policy (NIRP)? The purpose of this study is to shed light on the existence of a lending channel of monetary policy under NIRP. To do so, we aim to provide an in-depth analysis of the relationship between NIRP and...

Faced with a potential zero lower bound on deposit interest rates, how do banks pass onthe fall in net interest income due to negative interest rates? This paper aims to investigatethe different channels of banks’ responses to negative interest rates using a detailedbreakdown of the profit and...

Faced with a potential zero lower bound on deposit interest rates, how do banks pass on thefall in net interest income due to negative interest rates? This paper aims to investigate thedifferent channels of banks’ responses to negative interest rates using a detailed breakdownof the profit and...

Using panel dataset of 9,421 banks from 59 countries over the period 2009-2018 and Differences-in-Differences framework, this paper aims to assess the effects of negative interest rates on banks' risk-taking. We find that banks' risk-taking has been lower in countries where negative rates have...