In a recent research, four European Central Bank economists found that negative interest rate policy in the eurozone can encourage banks to increase lending and encourage cooperations to increase investments.That is, contrary to what macroeconomics models usually predict, interest rate policy can still has stimulative effect even the zero lower bound is reached.
Where is the General Theory of the 21st Centruy?
Why Kocherlakota is Disappointed with Post-Great Recession Macroeconomics?
Larry Christiano on whether there is a "Keynesian Revolution" after the Great Recession?
Why don't we have another breakthrough in Macroeconomics after the Great Recession? --- Scott Sumner
"There was no Liquidity Trap in the Great Depression" --- Interview with Scott Sumner