Banks, money, and the zero lower bound on deposit rates

DOI10.1016/J.JEDC.2021.104208MaRDI QIDQ2054804zbMATH OpenOpenAlexFDO

Authors Michael Kumhof, Xuan Wang

Publication date 3 December 2021

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL http://hdl.handle.net/1871.1/9824e915-f388-4ef1-a1eb-05f2aca179cd

zbMATH Keywords

banksdeposits-in-advanceinside moneymonetary policy rulesmoney creationmoney demandPhillips curveTaylor ruleszero lower bound

Mathematics Subject Classification ID

Dynamic stochastic general equilibrium theory (91B51) Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cites work

• A model to analyse financial fragility
• Determinacy with nominal assets and outside money
• Equilibrium analysis, banking and financial instability.
• Existence of an Exchange Equilibrium under Price Rigidities
• Inside and outside fiat money, gains to trade, and IS-LM
• Money and Interest in a Cash-in-Advance Economy
• On the Efficiency of a Monetary Equilibrium
• On the Role of Money and the Existence of a Monetary Equilibrium
• Prices, markups, and trade reform
• Search for yield
• The deposits channel of monetary policy
• Theory and practice of monetary policy: guest editors' introduction.

Cited in

(11)

• Deposit insurance and bank regulation in a monetary economy: a general equilibrium exposition
• Do negative interest rates make banks less safe?
• The macroeconomics of central bank digital currencies
• (Un)conventional policy and the effective lower bound
• Bank business models, negative policy rates, and prudential regulation
• Global imbalances and policy wars at the zero lower bound
• scientific article; zbMATH DE number 7598167 (Why is no real title available?)
• Stabilization policy at the zero lower bound
• scientific article; zbMATH DE number 2209552 (Why is no real title available?)
• Negative nominal interest rates and the bank lending channel
• Reserve-dependent surrender rates

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