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2017 | 1(10) | 195-206
Article title

Stabilność finansowa i napięcia w systemie finansowym w środowisku ujemnych stóp procentowych

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Languages of publication
PL
Abstracts
EN
The aim of the paper is to analyze new sources of systemic risk in the negative interest rates environment. The study reviews possible consequences of negative interest rates policy (NIRP) for financial stability. This paper tries to fulfill above goal by implementing an overall market stress indicator for the four economies with negative interest rates – Eurozone, Denmark, Sweden and Switzerland and other 14 countries with positive rates. In order to achieve this, we choose six segments of the market on which negative interest rates policy (NIRP) may have a significant impact. According to our results, problem of the NIRP has been so far limited and concern mostly bond market. Our research indicates macroprudential policy should be more active in NIRP than in positive interest rate environment and demand coordination with monetary policy.
Year
Issue
Pages
195-206
Physical description
Contributors
  • Szkoła Główna Handlowa w Warszawie
  • Szkoła Główna Habdlowa w Warszawie
References
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Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.mhp-de91c5cf-7bd8-4dc2-90ba-1c4ba7fec75a
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