As nominal policy interest rates are hitting the lower zero bound in many industrialised countries, questions are raised about possible unintended consequences. This note argues that low interest rates reduce the long run rate of potential economic growth, but exiting “ultra-easy” policies now would be premature.
Implications of the Low Interest Rate Environment for the Real Economy.
COLLIGNON, STEFAN
2013-01-01
Abstract
As nominal policy interest rates are hitting the lower zero bound in many industrialised countries, questions are raised about possible unintended consequences. This note argues that low interest rates reduce the long run rate of potential economic growth, but exiting “ultra-easy” policies now would be premature.File in questo prodotto:
Non ci sono file associati a questo prodotto.
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
