Negative interest rate policy in the post COVID-19 world
Andrew Lilley, Kenneth Rogoff In the aftermath of the Global Crisis, conventional monetary policy has been constrained by low interest rates in many major economies. This has spurred debates on the possibility of introducing negative interest rates in the monetary policy toolkit. This column uses evidence from the US to show that not only do […]
The impact of the COVID-19 crisis on the equilibrium interest rate
Gavin Goy, Jan Willem van den End The lockdown of economies during the COVID-19 crisis creates conditions in which private sector demand may fall unboundedly while precautionary savings increase. This column argues that the crisis will push down the equilibrium real interest rate further, which has been trending down since the 1980s. However, higher government […]
D. Katsikas and N. Koutsiaras: Covid-19 in the euro area – Ranking macroeconomic policy choices
Covid-19 in the euro area – Ranking macroeconomic policy choices