| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15118 |
| 来源ID | Working Paper 15118 |
| Negative Nominal Interest Rates: Three ways to overcome the zero lower bound | |
| Willem H. Buiter | |
| 发表日期 | 2009-06-30 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | The paper considers three methods for eliminating the zero lower bound on nominal interest rates and thus for restoring symmetry to domain over which the central bank can vary its policy rate. They are: (1) abolishing currency (which would also be a useful crime-fighting measure); (2) paying negative interest on currency by taxing currency; and (3) decoupling the numéraire from the currency/medium of exchange/means of payment and introducing an exchange rate between the numéraire and the currency which can be set to achieve a forward discount (expected depreciation) of the currency vis-a-vis the numéraire when the nominal interest rate in terms of the numéraire is set at a negative level for monetary policy purposes. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy ; Financial Economics |
| URL | https://www.nber.org/papers/w15118 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572793 |
| 推荐引用方式 GB/T 7714 | Willem H. Buiter. Negative Nominal Interest Rates: Three ways to overcome the zero lower bound. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15118.pdf（445KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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