How Long to Read Enabling Deep Negative Rates to Fight Recessions: A Guide

How Long Does it Take to Read Enabling Deep Negative Rates to Fight Recessions: A Guide?

It takes the average reader 1 hour and 32 minutes to read Enabling Deep Negative Rates to Fight Recessions: A Guide by Ruchir Agarwal

Assuming a reading speed of 250 words per minute. Learn more

Description

The experience of the Great Recession and its aftermath revealed that a lower bound on interest rates can be a serious obstacle for fighting recessions. However, the zero lower bound is not a law of nature; it is a policy choice. The central message of this paper is that with readily available tools a central bank can enable deep negative rates whenever needed—thus maintaining the power of monetary policy in the future to end recessions within a short time. This paper demonstrates that a subset of these tools can have a big effect in enabling deep negative rates with administratively small actions on the part of the central bank. To that end, we (i) survey approaches to enable deep negative rates discussed in the literature and present new approaches; (ii) establish how a subset of these approaches allows enabling negative rates while remaining at a minimum distance from the current paper currency policy and minimizing the political costs; (iii) discuss why standard transmission mechanisms from interest rates to aggregate demand are likely to remain unchanged in deep negative rate territory; and (iv) present communication tools that central banks can use both now and in the event to facilitate broader political acceptance of negative interest rate policy at the onset of the next serious recession.

How long is Enabling Deep Negative Rates to Fight Recessions: A Guide?

Enabling Deep Negative Rates to Fight Recessions: A Guide by Ruchir Agarwal is 89 pages long, and a total of 23,051 words.

This makes it 30% the length of the average book. It also has 28% more words than the average book.

How Long Does it Take to Read Enabling Deep Negative Rates to Fight Recessions: A Guide Aloud?

The average oral reading speed is 183 words per minute. This means it takes 2 hours and 5 minutes to read Enabling Deep Negative Rates to Fight Recessions: A Guide aloud.

What Reading Level is Enabling Deep Negative Rates to Fight Recessions: A Guide?

Enabling Deep Negative Rates to Fight Recessions: A Guide is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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