Should they stay or should they go? Negative interest rate policies under review.

IF 1.5 Q2 ECONOMICS

INTERNATIONAL ECONOMICS AND ECONOMIC POLICY Pub Date : 2022-01-01 Epub Date: 2022-09-01 DOI:10.1007/s10368-022-00547-4

Joscha Beckmann, Klaus-Jürgen Gern, Nils Jannsen

引用次数: 0

Abstract

Negative interest rate policies (NIRP) have become an established monetary policy instrument in the toolkit of the ECB. We discuss NIRP in the euro area based on theoretical considerations and available empirical evidence. We find that NIRP had some positive impact on loan growth and investment in the euro area, but that the room to further loosen monetary policy via NIRP may be small. NIRP is discussed also in the context of the general monetary policy environment.

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他们应该留下还是离开？审查中的负利率政策

负利率政策（NIRP）已成为欧洲央行既定的货币政策工具。我们根据理论考虑和现有的经验证据讨论欧元区的NIRP。我们发现，负利率政策对欧元区的贷款增长和投资有一定的积极影响，但通过负利率政策进一步放松货币政策的空间可能很小。NIRP也在总体货币政策环境的背景下进行了讨论。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

INTERNATIONAL ECONOMICS AND ECONOMIC POLICY ECONOMICS-

CiteScore

3.50

自引率

0.00%

发文量

期刊介绍： The double-blind peer reviewed Journal International Economics and Economic Policy publishes empirical and theoretical contributions, especially papers which are relevant for economic policy. The main focus of the journal is on comparative economic policy, international political economy, including international organizations and policy cooperation, monetary and real/technological dynamics in open economies, globalization and regional integration, trade, migration, international investment, internet commerce and regulation.IEEP particularly offers contributions from the policy community and provides a forum for exchange for the academic and policy community. Officially cited as: Int Econ Econ Policy