Global trends in interest rates

The trend in the world real interest rate for safe and liquid assets fluctuated close to 2 percent for more than a century, but has dropped significantly over the past three decades. This decline has been common among advanced economies, as trends in real interest rates across countries have converged over this period. It was driven by an increase in the convenience yield for safety and liquidity and by lower global economic growth.

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Year of publication:	2018
Authors:	Del Negro, Marco ; Giannone, Domenico ; Giannoni, Marc Paolo ; Tambalotti, Andrea
Publisher:	New York, NY : Federal Reserve Bank of New York
Subject:	Realzins \| Wirtschaftliche Konvergenz \| Liquidität \| Wirtschaftliche Sicherheit \| Schätzung \| Industrieländer \| USA \| world interest rate \| convenience yield \| interest rate parity \| VAR with common trends

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Series:	Staff Report ; 866
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1031925937 [GVK] hdl:10419/210718 [Handle]
Classification:	E43 - Determination of Interest Rates; Term Structure Interest Rates ; E44 - Financial Markets and the Macroeconomy ; F31 - Foreign Exchange ; G12 - Asset Pricing
Source:	EconStor

Persistent link: https://www.econbiz.de/10012144709