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National Repository of Grey Literature 75 records found  beginprevious75 - 75  jump to record: Search took 0.00 seconds. 
Below Zero: Economics of Negative Interest Rate
 Stroukal, Dominik ; Šťastný, Daniel (advisor) ; Špecián, Petr (referee)
This paper discusses the issue of negative nominal interest rate. Consistent following of Taylor's rule may lead to recommendations to adjust the interest rate below its zero bound. Although the negative nominal interest rate is considered to be impossible, proposals that can make it possible are presented. Their common impact is raising the cost of holding money. It is proven that without a statutory anchor and enforcement this policy of raising the cost of holding money cannot work. Since the originary rate of interest cannot be negative, the whole concept of negative nominal interest rates is only an unconventional form of taxation.
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