Kutasi, Gábor and Szabó, Eszter (2019) The effects of negative interest rates on the monetary transmission mechanism – The case of Switzerland. KÖZ-GAZDASÁG, 14 (3). pp. 286-292. ISSN 1788-0696
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Abstract
In this article we study how the monetary transmission mechanism (the process through which monetary policy affects aggregate demand and inflation) alters when the nominal interest rates become negative, through the case of Switzerland. The results of our models show that the effectiveness of the interest rate channel of the transmission mechanism decreases at negative nominal interest rates. However, considering the limits of the models and the unique factors affecting the monetary transmission in Switzerland, clear conclusions about the effectiveness of the interest rate channel cannot be made.
| Item Type: | Article |
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| Subjects: | H Social Sciences / társadalomtudományok > HB Economic Theory / közgazdaságtudomány H Social Sciences / társadalomtudományok > HG Finance / pénzügy |
| SWORD Depositor: | MTMT SWORD |
| Depositing User: | MTMT SWORD |
| Date Deposited: | 09 Mar 2023 15:19 |
| Last Modified: | 09 Mar 2023 15:19 |
| URI: | http://real.mtak.hu/id/eprint/161905 |
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