Baksa, Dániel; Felcser, Dániel; Horváth, Ágnes; … - In: MNB Bulletin 8 (2013) Special, pp. 7-13
expansionary versus contractionary monetary policy. We call this point of reference the neutral interest rate or the natural rate … of interest. Similar to potential output, the neutral interest rate is a theoretical equilibrium concept, not an … uncertainty. This essay looks at the individual factors influencing the neutral interest rate and gives an estimate for the range …