10% off all books and free delivery over £40
Buy from our bookstore and 25% of the cover price will be given to a school of your choice to buy more books. *15% of eBooks.

Negative Interest Rates and Financial Stability

View All Editions (1)

The selected edition of this book is not available to buy right now.
Add To Wishlist
Write A Review

About

Negative Interest Rates and Financial Stability Synopsis

This book sheds new light on a recently introduced monetary tool – negative interest rates policy (NIRP). It provides in-depth insight into this phenomenon, conducted by the central banks in several economies, for example, the Eurozone, Switzerland and Japan, and its possible impact on systemic risk. Although it has been introduced as a temporary policy instrument, it may remain widely used for a longer period and by a greater range of central banks than initially expected, thus the book explores its effects and implications on the banking sector and financial markets, with a particular focus on potentially adverse consequences. There is a strong accent on the uniqueness of negative policy rates in the context of financial stability concerns. The authors assess whether NIRP has any – or in principle a stronger – impact on systemic risk than conventional monetary policy. The book is targeted at presenting and evaluating the initial experiences of NIRP policy during normal, i.e. pre-COVID, times, rather than in periods in which pre-established macroeconomic relations are rapidly disrupted or, specifically, when the source of the disruption is not purely economic in nature, unlike in systemic crisis. The authors adopt both theoretical and practical approaches to explore the key issues and outline the policy implications for both monetary and macroprudential authorities, with respect to negative interest rate policy, thus the book will provide a useful guide for policymakers, academics, advanced students and researchers of financial economics and international finance.

About This Edition

ISBN: 9781032319490
Publication date:
Author: Karol SGH Warsaw School of Economics Rogowicz, Magorzata IwaniczDrozdowska
Publisher: Routledge an imprint of Taylor & Francis Ltd
Format: Hardback
Pagination: 272 pages
Series: Routledge International Studies in Money and Banking
Genres: Political economy
Banking
Monetary economics
Econometrics and economic statistics
Economic theory and philosophy