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Les taux d’intérêt nominaux négatifs sont-ils efficaces pour relancer la croissance des crédits et de l’économie ?

Author

Listed:
  • Fanny Loux

    (Auteur indépendant)

  • Meixing Dai

    (BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique)

Abstract

Plusieurs banques centrales ont introduit des taux d'intérêt directeurs négatifs. Cette politique s'est traduite par des taux d'intérêt nominaux négatifs sur les marchés interbancaires et certains segments des marchés obligataires, voire sur le marché de dépôts et de crédits bancaires. S'il est indéniable que cette politique a poussé les banques à prêter plus et a permis aux Etats très endettés de se financer plus facilement sur le marché financier, il est encore trop tôt pour juger son effet sur la croissance car elle affecte à la fois le montant et le profil de risque des crédits bancaires.

Suggested Citation

  • Fanny Loux & Meixing Dai, 2017. "Les taux d’intérêt nominaux négatifs sont-ils efficaces pour relancer la croissance des crédits et de l’économie ?," Post-Print hal-04080478, HAL.
    • Handle: RePEc:hal:journl:hal-04080478
    Note: View the original document on HAL open archive server: https://hal.science/hal-04080478
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