Negative policy interest rates and exchange rate behavior: Further results

John Thornton; Chrysovalantis Vasilakis

doi:10.1016/j.frl.2019.03.023

Negative policy interest rates and exchange rate behavior: Further results

John Thornton, Chrysovalantis Vasilakis

Bangor Business School

Research output: Contribution to journal › Article › peer-review

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Abstract

Since 2012, seven central banks sought have additional monetary policy accommodation through the adoption of negative policy interest rates (NPIR). The policy resulted in a significant reduction in exchange rate volatility and weaker exchange rates in NIRP-adopter countries relative countries that did not adopt the policy.

Original language	English
Pages (from-to)	61-67
Journal	Finance Research Letters
Volume	29
Early online date	12 Mar 2019
DOIs	https://doi.org/10.1016/j.frl.2019.03.023
Publication status	Published - Jun 2019

Keywords

Difference in difference estimation
Exchange rate behavior
Negative policy interest rates

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10.1016/j.frl.2019.03.023

2019-Negative policy interest rates and exchange rate behaviorAccepted author manuscript, 690 KBLicence: CC BY-NC-ND

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title = "Negative policy interest rates and exchange rate behavior: Further results",

abstract = "Since 2012, seven central banks sought have additional monetary policy accommodation through the adoption of negative policy interest rates (NPIR). The policy resulted in a significant reduction in exchange rate volatility and weaker exchange rates in NIRP-adopter countries relative countries that did not adopt the policy. ",

keywords = "Difference in difference estimation, Exchange rate behavior, Negative policy interest rates",

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AB - Since 2012, seven central banks sought have additional monetary policy accommodation through the adoption of negative policy interest rates (NPIR). The policy resulted in a significant reduction in exchange rate volatility and weaker exchange rates in NIRP-adopter countries relative countries that did not adopt the policy.

KW - Difference in difference estimation

KW - Exchange rate behavior

KW - Negative policy interest rates

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DO - 10.1016/j.frl.2019.03.023

M3 - Article

SN - 1544-6123

VL - 29

SP - 61

EP - 67

JO - Finance Research Letters

JF - Finance Research Letters

ER -

Negative policy interest rates and exchange rate behavior: Further results

Abstract

Keywords

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