Negative policy interest rates and exchange rate behavior: Further results
John Thornton () and
Finance Research Letters, 2019, vol. 29, issue C, 61-67
Since 2012, seven central banks have sought additional monetary policy accommodation through the adoption of negative policy interest rates (NPIR). The policy resulted in a significant reduction in exchange rate volatility and weaker exchange rates in NPIR--adopter countries relative countries that did not adopt the policy.
Keywords: Negative policy interest rates; Exchange rate behavior; Difference in difference estimation (search for similar items in EconPapers)
JEL-codes: E52 F31 G15 (search for similar items in EconPapers)
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