Does the deposits channel work under a low interest rate environment?

被引：7

作者：

Sa, Ana Isabel ^{[1
]}

Jorge, Jose ^{[1
,2
]}

机构：

[1] Univ Porto, Sch Econ & Management, R Dr Roberto Frias, P-4200464 Porto, Portugal

[2] CEF UP, R Dr Roberto Frias, P-4200464 Porto, Portugal

来源：

ECONOMICS LETTERS | 2019年 / 185卷

关键词：

Deposits channel; Monetary policy; Low interest rates; Bank profitability; MONETARY-POLICY; RISK;

D O I：

10.1016/j.econlet.2019.108736

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

According to the deposits channel of monetary policy, central banks can influence the deposits holdings and the loan supply by changing the policy rate. This paper discusses the generality of this channel and shows that low interest rates may turn this channel off. This result contributes to the literature on unintended effects of monetary policy and banks' profitability in a low interest rate environment. (C) 2019 Elsevier B.V. All rights reserved.

引用

页数：5

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