Discussion Paper

Interest-Bearing Securities When Interest Rates are Below Zero

Abstract: Negative interest rates have evolved, over the past few years, from a topic of modest academic interest to a practical reality. Short- and intermediate-term sovereign debt of several European countries, including Germany, Denmark, the Netherlands, Sweden, Austria, and Switzerland, now trades at negative yields.

Keywords: Equation; Research; ; Math;

JEL Classification: E5; G2;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Liberty Street Economics

Publication Date: 2015-05-04

Number: 20150504