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NIRP - Negative Interest Rate Policy
NIRP refers to Negative Interest Rate Policy. This is an attempt to outline what it is and what it may mean, collating recent evidence, references, papers and discussion. It is as much an opportunity for the author to gather information and their own thoughts in a coherent manner as it is for the interest of any reader.
NIRP is a phenomenon of negative nominal interest rates. A nominal rate of interest is the rate before inflation. A real interest rate refers to the nominal rate minus inflation. While the distinction between defining NIRP in nominal or real terms may appear irrelevant, it is not an arbitrary distinction and the difference matters a great deal.
It matters even more in the context and consideration of electronic money, or perhaps money will in general matter more in the context of NIRP.
Any skew in economic perspectives referenced is quite inevitable and unapologetic. There is no core belief bias being outlined, nor any partisan justification. Impact is what we make of it. This is only a collation of information to think on in better determining a view of one likely future, and how to prepare for and live it. I'd recommend any reader do the same. The links borrow heavily from lurking and discussion here and here. Where any link requires a sign-up process for access, it's free or use google.