2  Mankiw, G., 2009, “It may be time for the Fed to go negative”, New York Time (April 19). See also W. Buiter, 2009. “Negative interest rates: when are they coming to a central bank near you?”, May 2009. 3  See Ilgmann, C. and M. Menner, 2011, “Negative nominal rates: history and current proposals”, International Economics and Economic Policy, 8, 383–405.
See also Gesell, S., 1958. The Natural Economic Order. London: Peter Owen Ltd., and Fisher, I., 1933. Stamp Script. New York: Adelphi. BIS central bankers’ speeches  1  •  What are in principle the benefits and costs of such a move? •  And, with the benefit of some hindsight since June, what is the initial assessment?