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Should They Stay Or Should They Go?
Joscha BeckmannKlaus-Jürgen GernNils Jannsen
其他書名
Negative Interest Rate Policies Under Review : In-depth Analysis Requested by the ECON Committee
出版European Parliament, 2021
ISBN92846815029789284681501
URLhttp://books.google.com.hk/books?id=ZPmgzgEACAAJ&hl=&source=gbs_api
註釋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. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 21 June 2021.