Journal of Economic Perspectives—Volume 31, Number 4—Fall 2017—Pages 229–236 Timothy Taylor his section will list readings that may be especially useful to teachers of undergraduate economics, as well as other articles that are of broader T cultural interest. In general, with occasional exceptions, the articles chosen will be expository or integrative and not focus on original research. If you write or read an appropriate article, please send a copy of the article (and possibly a few sentences describing it) to Timothy Taylor, preferably by email at taylort@ macalester.edu, or c/o Journal of Economic Perspectives, Macalester College, 1600 Grand Ave., St. Paul, MN 55105. Smorgasbord The IMF has issued a staff report on the topic of “Negative Interest Rate Policies—Initial Experiences and Assessments.” “There is some evidence of a decline in loan and bond rates following the implementation of NIRPs [negative interest rate policies]. Banks’ profit margins have remained mostly unchanged. And there have not been significant shifts to physical cash. That said, deeper cuts are likely to entail diminishing returns, as interest rates reach their ‘true’ lower bound (at which point agents shift into cash holdings). And pressure on banks may prove greater; ■ Timothy Taylor is Managing Editor, Journal of Economic
Journal of Economic Perspectives – American Economic Association
Published: Nov 1, 2017
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