Transcription of BIS Working Papers
{{id}} {{{paragraph}}}
Example: dental hygienist
BIS Working Papers
BIS Working Papers No 983 Losing traction ? The real effects of monetary policy when interest rates are low by Rashad Ahmed, Claudio Borio, Piti Disyatat and Boris Hofmann Monetary and Economic Department November 2021 JEL classification: E20, E52, E58. Keywords: monetary policy, low interest rates, monetary transmission mechanism. 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. The Papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the views of the BIS. This publication is available on the BIS website ( ). Bank for International Settlements 2021. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated.
control for confounding factors, notably the state of the business cycle, debt overhang and a possible trend decline in equilibrium interest rate levels. There are several channels through which persistently low interest rates could diminish the traction of monetary policy on economic activity.
Loading..
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: