Lower Bound Beliefs and Long-Term Interest Rates

Lower Bound Beliefs and Long-Term Interest Rates
We study the transmission of changes in the believed location of the lower bound to longterm interest rates since the introduction of negative interest rate policies. The expectations hypothesis of the term structure combined with a lower bound on policy rates suggests that normal policy transmission is reduced when policy... READ MORE...

Publication date: March 2017
ISBN 9781475588224
$18.00

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