| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15611 |
| DP15611 Banks and Negative Interest Rates | |
| Florian Heider; Farzad Saidi; Glenn Schepens | |
| 发表日期 | 2020-12-28 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | In this paper, we survey the nascent literature on the transmission of negative policy rates. We discuss the theory of how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the growing evidence that negative policy rates are special because the pass-through to banks' retail deposit rates is hindered by a zero lower bound. We summarize existing work on the impact of negative rates on banks' lending and securities portfolios, and the consequences for the real economy. Finally, we discuss the role of different "initial" conditions when the policy rate becomes negative, and potential interactions between negative policy rates and other unconventional monetary policies. |
| 主题 | Financial Economics ; Monetary Economics and Fluctuations |
| 关键词 | Deposits Negative interest rates Zero lower bound Bank lending Bank risk taking Euro-area heterogeneity |
| URL | https://cepr.org/publications/dp15611 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544624 |
| 推荐引用方式 GB/T 7714 | Florian Heider,Farzad Saidi,Glenn Schepens. DP15611 Banks and Negative Interest Rates. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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