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The negative interest rate policy (NIRP) has been in place in the euro area since June 2014. While the NIRP can provide additional monetary accommodation in the situation where the neutral rate of interest is most likely negative, there are also unintended consequences for banks’ profitability...
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We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US between 2008 and 2016. Using monetary policy surprises, obtained from changes in interest rates futures in narrow windows around FOMC announcements, we isolate the increased...
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, southern eurozone countries is not exclusively the consequence of out-of-control government budgets; the private sector had … eurozone countries also contributed by lending too much money to the eurozone countries concerned. Better banking regulation in … the eurozone is, therefore, essential. Nor is transferring power free of commitment for the Netherlands. At the moment …
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This paper contributes to the empirical literature investigating reasons for the fall in real interest rates in advanced economies. It focuses on selected drivers from three broad categories: demographic changes; imbalances between supply of and demand for safe assets; and monetary policy at...
Persistent link: https://www.econbiz.de/10011700540