Does slower growth imply lower interest rates?

Over the past two years, both monetary and fiscal policy projections have been based on the view that declines in the long-run potential growth rate of the economy will in turn push down interest rates. In contrast, examination of private-sector professional forecasts and historical data provides little evidence of such a linkage. This suggests a greater risk that future interest rates may be higher than expected.

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Year of publication:	2014
Authors:	Leduc, Sylvain ; Rudebusch, Glenn
Published in:	FRBSF Economic Letter. - Federal Reserve Bank of San Francisco. - 2014, 33
Publisher:	Federal Reserve Bank of San Francisco

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010960455