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  • Diskussionspapiere 1990 / 2022

    The Signalling Channel of Negative Interest Rates

    Negative interest rates remain a controversial policy for central banks. We study a novel signalling channel and ask under what conditions negative rates should exist in an optimal policymaker’s toolkit. We prove two necessary conditions for the optimality of negative rates: a time-consistent policy setting and a preference for policy smoothing. These conditions allow negative rates to signal policy ...

    2022| Oliver de Groot, Alexander Haas
  • DIW Berlin - Politikberatung kompakt 130 / 2018

    Negative Interest Rates and the Signalling Channel: In-Depth Analysis

    2018| Kerstin Bernoth, Alexander Haas
2 Ergebnisse, ab 1