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Japanization : Is it Endemic or Epidemic?
Ito, Takatoshi - 2016
Japanization is defined as a combinations of the following economic conditions: (1) the actual growth rate is lower than the potential growth rate for an extended period; (2) the natural real interest rate is below zero and also below the actual real interest rate; (3) the nominal (policy)...
Persistent link: https://www.econbiz.de/10012999465
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Towards a Common European Monetary Union Risk Free Rate
Mayordomo, Sergio - 2009
A common European bond would yield a common European Monetary Union risk free rate. We present tentative estimates of this common risk free for the European Monetary Union countries from 2004 to 2009 using variables motivated by a theoretical portfolio selection model. First, we analyze the...
Persistent link: https://www.econbiz.de/10013156250
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The Private Ecu : A Currency Floating on Gossamer Wings
Folkerts-Landau, David - 2010
Today's value of the private ECU is driven by expectations that a European monetary authority will at some future date declare itself willing to convert the private ECU into the official basket at par. Until then, its value is not limited by any existing institutional arrangements in the...
Persistent link: https://www.econbiz.de/10012760150
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Jobless Growth : Appropriability, Factor Substitution, and Unemployment
Caballero, Ricardo J. - 2010
evolution of the labor share, the profit rate, the capital/output ratio, and unemployment which we examine more particularly in … the case of France appears highly supportive …
Persistent link: https://www.econbiz.de/10012763653
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Revisiting European Unemployment : Unemployment, Capital Accumulation, and Factor Prices
Blanchard, Olivier J. - 2000
This paper starts from two sets of facts about Continental Europe.The first is the steady increase in unemployment … larger increase since the mid-1980s. The paper then develops a model of capital accumulation, unemployment and factor prices …. Using this model to look at the data, it reaches two main conclusions: The initial increase in unemployment, from the mid …
Persistent link: https://www.econbiz.de/10014158147
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The Aftermath of the 1992 Erm Breakup : Was There a Macroeconomic Free Lunch?
Gordon, Robert J. - 2021
surprising miracle occurred the leaver nations are alleged to have enjoyed a burst of real growth and a decline in unemployment … pronounced if it were not for quiescent wage rates, which the paper attributes to high unemployment. The absence of any …
Persistent link: https://www.econbiz.de/10013219692
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The Real Exchange Rate, Real Interest Rates, and the Risk Premium
Engel, Charles M. - 2011
The well-known uncovered interest parity puzzle arises from the empirical regularity that, among developed country pairs, the high interest rate country tends to have high expected returns on its short term assets. At the same time, another strand of the literature has documented that high real...
Persistent link: https://www.econbiz.de/10013123979
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When Does it Pay to Delay Social Security? The Impact of Mortality, Interest Rates, and Program Rules
Shoven, John B. - 2013
Social Security benefits may be commenced at any time between ages 62 and 70. As individuals who claim later can, on average, expect to receive benefits for a shorter period, an actuarial adjustment is made to the monthly benefit to reflect the age at which benefits are claimed. In earlier work...
Persistent link: https://www.econbiz.de/10013090660
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Global Trends in Interest Rates
Del Negro, Marco - 2018
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...
Persistent link: https://www.econbiz.de/10012911094
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Short-Term Movements of Long-Term Real Interest Rates : Evidence from the U.K. Indexed Bond Market
Wilcox, James A. - 2010
The central goverment now issues both nominal and iflation indexed long-term bonds in the United Kingdom. The difference in their yields provides one measure of the long-term expevted rate of inflation. The evidence suggests that higher long-term, expected , real yields are associated with...
Persistent link: https://www.econbiz.de/10012763379