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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 transmissio...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
|
| Colección: | IMF working paper ;
WP/17/62. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Grisse, Christian, |e author. | |
| 245 | 1 | 0 | |a Lower bound beliefs and long-term interest rates / |c by Christian Grisse, Signe Krogstrup, and Silvio Schumacher. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2017] | |
| 264 | 4 | |c ©2017 | |
| 300 | |a 1 online resource (41 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Paper, |x 1018-5941 ; |v WP/17/62 | |
| 500 | |a "March 2017." | ||
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover; Lower Bound Beliefs and Long-Term Interest Rates; 1 Introduction; 2 Theory; 3 An Event Study of Changes in the Lower Bound; 4 Conclusion; References. | |
| 520 | 3 | |a 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 rates approach this lower bound. We show that if market participants revise downward the believed location of the lower bound, this may in itself reduce long-term yields. Moreover, normal policy transmission to long-term rates increases. A cross-country event study suggests that such effects have been empirically relevant during the recent negative interest rate episode. | |
| 504 | |a Includes bibliographical references at the end of each chapters. | ||
| 590 | |a eBooks on EBSCOhost |b EBSCO eBook Subscription Academic Collection - Worldwide | ||
| 650 | 0 | |a Monetary policy. | |
| 650 | 0 | |a Interest rates. | |
| 650 | 0 | |a Interest rates |x Econometric models. | |
| 650 | 6 | |a Politique monétaire. | |
| 650 | 6 | |a Taux d'intérêt. | |
| 650 | 6 | |a Taux d'intérêt |x Modèles économétriques. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Finance. |2 bisacsh | |
| 650 | 7 | |a Interest rates |2 fast | |
| 650 | 7 | |a Interest rates |x Econometric models |2 fast | |
| 650 | 7 | |a Monetary policy |2 fast | |
| 700 | 1 | |a Krogstrup, Signe, |e author. | |
| 700 | 1 | |a Schumacher, Silvio, |e author. | |
| 776 | 0 | 8 | |i Print version: |a Grisse, Christian. |t Lower Bound Beliefs and Long-Term Interest Rates. |d Washington, D.C. : International Monetary Fund, ©2017 |z 9781475588224 |
| 830 | 0 | |a IMF working paper ; |v WP/17/62. | |
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