Negative Policy Rates, Banking Flows and Exchange Rates - HAL Accéder directement au contenu
Pré-publication, Document de travail Année : 2015

Negative Policy Rates, Banking Flows and Exchange Rates

Résumé

Setting negative nominal rates is one of the unconventional policies implemented after the Great Recession to overcome the Zero Lower Bound. Using data from the euro area and Denmark, I assess the impact of introducing a negative interest rate on reserves. I find that it did put a depreciation pressure on the currency due to a reversal in banking flows. This effect is not only caused by policy differentials, but also by a distinct impact of going into negative territory from lowering interest rates.
Fichier principal
Vignette du fichier
WP 2015 - Nr 38.pdf ( 906.65 Ko ) Télécharger
Origine : Fichiers produits par l'(les) auteur(s)
Loading...

Dates et versions

halshs-01203609, version 1 (23-09-2015)

Identifiants

  • HAL Id : halshs-01203609 , version 1

Citer

Anwar Khayat. Negative Policy Rates, Banking Flows and Exchange Rates. 2015. ⟨halshs-01203609⟩
147 Consultations
405 Téléchargements
Dernière date de mise à jour le 20/04/2024
comment ces indicateurs sont-ils produits

Partager

Gmail Facebook Twitter LinkedIn Plus