[19] See Brunnermeier, M. and Koby, Y. (2018), “The Reversal Interest Rate”, Working Paper Series, No 25406, National Bureau of Economic Research.
[20] For a more detailed discussion of the channels of transmission of the APP and its impact on the euro area yield curve, see Lane, P. R. (2019), “The yield curve and monetary policy”, public lecture for the Centre for Finance and the Department of Economics at University College London, London, 25 November. [21] See Bernanke, B., op. cit.