Negative policy interest rates and exchange rate behavior: Further results

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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
Original languageEnglish
Pages (from-to)61-67
JournalFinance Research Letters
Volume29
Early online date12 Mar 2019
DOIs
Publication statusPublished - Jun 2019

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