Belke, Ansgar; Göcke, Matthias - In: Credit and Capital Markets – Kredit und Kapital 54 (2021) 3, pp. 319-345
banks) whether uncertainty over future interest rates at the zero lower bound hampers monetary policy transmission. As an … of uncertainty. Starting with hysteresis effects on the micro level, we apply an adequate aggregation procedure to derive … to stimulate investment in times of low or even zero interest rates and uncertainty. …