Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/213171 
Erscheinungsjahr: 
2018
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[Journal:] Intereconomics [ISSN:] 1613-964X [Volume:] 53 [Issue:] 3 [Publisher:] Springer [Place:] Heidelberg [Year:] 2018 [Pages:] 164-169
Verlag: 
Springer, Heidelberg
Zusammenfassung: 
Conventional wisdom says that central banks determine interest rate levels. After all, monetary policy set by central banks directly influences money market conditions. But these conditions are also shaped by other actors such as government, manufacturing businesses, commercial banks and non-bank financial institutions, as well as by monetary developments abroad. In this paper, it is argued that market forces, such as a global saving glut, play a more important role in setting interest rates than central banks.
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