This paper presents an overview of the channels of monetary transmission and their manifestation in Bulgaria - a country in a currency board arrangement - in the first five years after the introduction of the regime. The presence of such a mechanism of transmission requires some form of...

The Currency Board in Bosnia and Herzegovina (BiH) uses the euro as a reserve currency in the conditions of a negative nominal interest rate on deposits with the ECB. In this paper, we investigated the impact of negative interest rates on deposits and negative yields on bonds denominated in euro...