Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Hara, Naoko 

Working Paper
Negative Interest Rate Policy and the Influence of Macroeconomic News on Yields
We consider the influence of domestic and U.S. macroeconomic news surprises on daily bond yields over the January 1999 to January 2018 period for four advanced Negative Interest Rate Policy (NIRP) economies ? Germany, Japan, Sweden and Switzerland. Our results suggest that the influence of macroeconomic news surprises is for all four countries under study during the NIRP period non-existent or noticeably weaker than during the preceding Zero Interest Rate Policy (ZIRP) period. Our results are consistent with the suggestion that NIRP is characterized by a lower bound that is no less constraining than the zero lower bound that characterizes ZIRP.
AUTHORS: Fatum, Rasmus; Hara, Naoko; Yamamoto, Yohei
DATE: 2019-01-27

FILTER BY Bank

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

E43 1 items

E52 1 items

E58 1 items

FILTER BY Keywords

PREVIOUS / NEXT