Transcription of BIS Working Papers
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BIS Working Papers No 628 Is monetary policy less effective when interest rates are persistently low? by Claudio Borio and Boris Hofmann Monetary and Economic Department April 2017 JEL classification: E43, E52 Keywords: monetary policy, low interest rates , balance-sheet recession, monetary transmission BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank.
BIS Working Papers No 628 . Is monetary policy less effective when interest rates are persistently low? by Claudio Borio and Boris Hofmann . …
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