On the theory of interest rate policy
PSL Quarterly Review, 2001 A new consensus in the theory of monetary policy has been reached pointing to the pivotal role of interest rates that are set in accordance with central banks' reaction functions.
Heinz-Peter Spahn
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Reconsiderando o efeito Fisher: uma análise de cointegração entre taxas de juros e inflação
Rethinking the Fisher Effect: a co-integration analysis between interest rates and inflation [PDF]
Nova Economia, 2003 This paper investigates the validity of the Fisher effect hypothesis that it is the interest rate which moves to adjust to the anticipated changes in the rate of inflation.
Francisco G. Carneiro +2 more
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Experiences of applying negative interest rate policy so far
Köz-gazdaság, 2020 Traditional economic theories generally rejected the possibility of implying negative nominal interest rates in practice. However, in the recent years it has become evident that the zero lower bound is not a binding constraint.
Vivien Czeczeli
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Negative Interest Rate Risk. Atavism or Normalization of Central Banks’ Monetary Policy
Acta Universitatis Lodziensis. Folia Oeconomica, 2019 In the face of the global financial crisis, central banks have used unconventional monetary policy instruments. Firstly, they implemented the interest rate policy, lowering base interest rates to a very low (almost zero) level.
Irena Pyka, Aleksandra Nocoń
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Exchange-Rate Policy and the Zero Bound on Nominal Interest Rates [PDF]
SSRN Electronic Journal, 2004 In this paper, we study the effectiveness of monetary policy in a severe recession and deflation when nominal interest rates are bounded at zero. We compare two alternative proposals for ameliorating the effect of the zero bound: an exchange-rate peg and price-level targeting.
Coenen, Gunter, Wieland, Volker
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MONETARY TRANSMISSION CHANNELS IN ROMANIA – THE CREDIT CHANNEL [PDF]
Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie, 2009 The theoretical – intuitive analysis applied to the segment of monetary transmission evidences the fact that forming the traditional monetary impulses transmission channels are in a starting phase due to the long financial non – intermediary process ...
Magdalena RĂDULESCU , Nicoleta DASCĂLU
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MONETARY POLICY INTEREST RATE AT THE CONFLUENCE WITH MACROECONOMIC INDICATORS [PDF]
Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie, 2017 The monetary policy rate is besides a monetary instrument and a monetary policy measure of the central banks. Communication of decisions on the level of official monetary policy rates targets the stability of prices.
Lucian-Ion MEDAR
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False issues in the debate on interest rate policies in less developed countries
PSL Quarterly Review, 2013 The work argues that many of the issues that have figured in interest rate policy discussions in the context of less developed countries are false, arising partly from terminological nuances, but largely from incorrect premises and approaches.
D. KHATKHATE
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The Impact of Interest Rates on Firmss Financing Policies [PDF]
SSRN Electronic Journal, 2017 This study analyzes whether corporate financing policies of the US industrial firms have depended on borrowing costs during the last forty years. The results show that the impact is either zero or slightly negative. Even in the latter case, the results are economically insignificant.
Sigitas Karpavičius, Fan Yu
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Old shocks cast long shadows over the exchange rate
Journal of Applied Economics, 2019 We propose a new exchange rate model using IRD time series as the input, and we fit the new model with empirical data for calibration. We assume that exchange rate modeling cannot be based on the response to a single shock but must instead be based on ...
Jón Helgi Egilsson
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