Working Papers present research work by both Danmarks Nationalbank’s employees and our partners. Working Papers are primarily targeted at professionals and people with an interest in central banking research as well as economics and finance in a broader sense.
Working Paper: What do negative policy rate economies have in common?
Five economies, Denmark, the euro area, Switzerland, Sweden and Japan, have conducted negative interest rate policies. In this paper, we document that these economies have high levels of public as well as private savings, not matched by high investments, relative to other high-income non-NIRP OECD economies.