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Negative Interest Rates

Negative Interest Rates »

Source: Negative Interest Rates : How Big a Challenge for Large Danish and Swedish Banks?

Volume/Issue: 2016/198

Series: IMF Working Papers

Author(s): Rima Turk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 October 2016

ISBN: 9781475544688

Keywords: Negative interest rates; Bank Profitability; Denmark; Sweden.

Negative policy interest rates have prevailed for some years in Denmark and are a more recent development in Sweden. Among other potential side effects, negative rates could weaken banks' profitability by reducing...

Enabling Deep Negative Rates to Fight Recessions: A Guide*

Enabling Deep Negative Rates to Fight Recessions: A Guide* »

Source: Enabling Deep Negative Rates to Fight Recessions: A Guide

Volume/Issue: 2019/84

Series: IMF Working Papers

Author(s): Ruchir Agarwal , and Miles Kimball

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2019

ISBN: 9781484398777

Keywords: Central bank independence, Reserve requirements, Interest rate policy, Central banks, Negative interest rates, electronic money, monetary policy, negative rate, paper currency, negative interest rate

The experience of the Great Recession and its aftermath revealed that a lower bound on interest rates can be a serious obstacle for fighting recessions. However, the zero lower bound is not a law of nature; it is a...

Switzerland

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Switzerland »

Source: Switzerland : Financial Sector Assessment Program; Technical Note-Stress Testing the Banking Sector

Volume/Issue: 2019/189

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2019

ISBN: 9781498321808

Keywords: Interest rates on loans, Bank credit, Central banks, Negative interest rates, Real interest rates, DFBs, fund cost, SNB, default rate, FINMA

Financial Sector Assessment Program; Technical Note-Stress Testing the Banking Sector...

Demographics and the Natural Rate of Interest in Japan

Demographics and the Natural Rate of Interest in Japan »

Source: Demographics and the Natural Rate of Interest in Japan

Volume/Issue: 2019/31

Series: IMF Working Papers

Author(s): Fei Han

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 February 2019

ISBN: 9781484396230

Keywords: Real interest rates, Negative interest rates, Interest rate policy, Economic growth, Interest rate increases, Demographic change;natural rate of interest;monetary policy;Japan;natural rate;Turunen;potential growth;Pescatori;real interest rate

Japan's aging and shrinking population could lower the natural rate of interest and, together with low inflation expectations, challenge the Bank of Japan's efforts to reflate the economy. This paper uses a semi-st...

Taming Financial Development to Reduce Crises

Taming Financial Development to Reduce Crises »

Source: Taming Financial Development to Reduce Crises

Volume/Issue: 2019/94

Series: IMF Working Papers

Author(s): Sami Ben Naceur , Bertrand Candelon , and Quentin Lajaunie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 May 2019

ISBN: 9781498312011

Keywords: Real interest rates, Negative interest rates, Financial safety nets, Exchange markets, Interest rate increases, financial Development, Banking crises, Regulation, bank crisis, logit

This paper assesses whether and how financial development triggers the occurrence of banking crises. It builds on a database that includes financial development as well as financial access, depth and efficiency for...

Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data1

Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data1 »

Source: Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data

Volume/Issue: 2019/44

Series: IMF Working Papers

Author(s): Margherita Bottero , Camelia Minoiu , José-Luis Peydro , Andrea Polo , Andrea Presbitero , and Enrico Sette

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 February 2019

ISBN: 9781498300858

Keywords: Bank credit, Reserve requirements, Interest rates on loans, Central banks, Bank liquidity, Negative interest rates, portfolio rebalancing, bank lending channel, liquidity management, Eurozone crisis

We study negative interest rate policy (NIRP) exploiting ECB's NIRP introduction and administrative data from Italy, severely hit by the Eurozone crisis. NIRP has expansionary effects on credit supply-- -and hence...

Lower Bound Beliefs and Long-Term Interest Rates*

Lower Bound Beliefs and Long-Term Interest Rates* »

Source: Lower Bound Beliefs and Long-Term Interest Rates

Volume/Issue: 2017/62

Series: IMF Working Papers

Author(s): Christian Grisse , Signe Krogstrup , and Silvio Schumacher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 2017

ISBN: 9781475588224

Keywords: Monetary policy, Negative interest rates, lower bound, yield curve, term structure, Monetary Policy (Targets, Instruments, and Effects)

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 structu...

The Euro-Area Government Spending Multiplier at the Effective Lower Bound*

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The Euro-Area Government Spending Multiplier at the Effective Lower Bound* »

Source: The Euro-Area Government Spending Multiplier at the Effective Lower Bound

Volume/Issue: 2019/133

Series: IMF Working Papers

Author(s): Adalgiso Amendola , Mario di Serio , Matteo Fragetta , and Giovanni Melina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2019

ISBN: 9781498314947

Keywords: Government expenditures, Negative interest rates, Real interest rates, Interest rate policy, Business cycles, Fiscal multiplier, Zero lower bound, Panel VAR, Factor models, Euro Area.

We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area (EA) and estimate it with Bayesian methods to compute government spending multipliers. The multipliers are contingent on the...

Pushed Past the Limit? How Japanese Banks Reacted to Negative Interest Rates

Pushed Past the Limit? How Japanese Banks Reacted to Negative Interest Rates »

Source: Pushed Past the Limit? How Japanese Banks Reacted to Negative Interest Rates

Volume/Issue: 2018/131

Series: IMF Working Papers

Author(s): Gee Hee Hong , and John Kandrac

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2018

ISBN: 9781484361610

Keywords: Bank lending rates, Central banks and their policies, Monetary transmission mechanism, Negative interest rates, Asia and Pacific, Economic conditions, Japan, monetary transmission, bank risk taking, lending channel

In this paper, we investigate how negative interest rate policy (NIRP) introduced in January 2016 by the Bank of Japan (BoJ) affected Japanese banks' lending and risk taking behavior. The BoJ's announcement was an...

Czech Republic: Staff Report for the 2016 Article IV Consultation

Czech Republic: Staff Report for the 2016 Article IV Consultation »

Source: Czech Republic : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Czech Republic

Volume/Issue: 2016/213

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2016

ISBN: 9781475568011

Keywords: Article IV consultation reports, Economic growth, Fiscal policy, Fiscal reforms, Monetary policy, Inflation targeting, Negative interest rates, Bank supervision, Economic indicators, Balance of payments statistics

This paper provides a technical report on the work of the Banking Supervision Department of the Bank of Israel. Banking supervision in Israel follows a very rigorous and comprehensive approach. Supervisory practice...