We investigate the bank lending channel of negative nominal policy rates from an empirical
and theoretical perspective. For the empirical results, we rely on Swedish data, including …

We examine the potential adverse effects of a prolonged period of low interest rates on
financial stability from multiple perspectives. First, we provide a unique comparison of …

A major obstacle for the implementation of a general-purpose central bank digital currency
(CBDC) is the risk of bank disintermediation, potentially jeopardizing financial stability and …

In response to the Covid‐19 crisis, the European Central Bank (ECB) has relaunched a
massive asset purchase programme within its combined‐arms monetary strategy. This …

Implementing a negative interest rate policy (NIRP) in the traditional fiat system is less
effective than desired because of the zero lower bound (ZLB) constraint on interest rates and …

Small-and medium-sized enterprises (SMEs) account for two-thirds of employment in the
euro area which makes them a priority for the transmission of monetary policy to the real …

This paper uses the System Generalized Moments (SYS-GMM) method to empirically
analyze the data of 16 Asian countries from 2000 to 2019, and finds the impact of monetary …

We assess the impact of monetary policy (ie, central bank interest rates) on the activity of
venture capitalists (VC). Using data from 31 countries from 2004 to 2019, we find that VC …

The coronavirus (COVID-19) pandemic had a strong impact on firms' business plans and
financing needs. In view of the importance of bank borrowing as a source of financing for …

Policy rate cuts in negative territory have increased credit supply and improved the
macroeconomic environment similar to cuts in positive territory. Dreaded disruptions to the …