ALTERNATİF PARA POLİTİKASI ARAYIŞLARI; NEGATİF FAİZ ORANI POLİTİKASI
ALTERNATIVE MONETARY POLICY INQUIRIES; NEGATIVE INTEREST RATE POLICY
Author(s): İsmail Cem Özkurt, Levent ÖzşahinSubject(s): Supranational / Global Economy, Economic policy, Financial Markets, EU-Legislation
Published by: Kafkas Üniversitesi Sağlık, Kültür ve Spor Daire Başkanlığı Dijital Baskı Merkezi
Keywords: Negative interest rate; deflation; monetary policy;
Summary/Abstract: The purpose of this study is to demonstrate the success of the negative interest rate policy implemented in the Europe Union (EU), Denmark, Sweden, Switzerland and Japan. Negative interest rate policy has been put into effect since the desired results can not be obtained from the traditional monetary policies applied to combat deflation. In the analysis, in the specific countries the Gross National Product (GDP), Consumer Price Inflation (CPI), industrial production and unemployment rates were examined in 2000 Q1 – 2017 Q4 quarterly period. The interactions between these variables and the central bank deposit rates were analyzed. The obtained results, especially in recent years show the policy of creating positive change in some indicators. However, it has also been determined that it would take time to obtain the desired results. For this reason, it has been determined that global developments should be taken into consideration besides the policy implementation.
Journal: Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
- Issue Year: 10/2019
- Issue No: 19
- Page Range: 430-473
- Page Count: 44
- Language: Turkish
