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Persistent link: https://www.econbiz.de/10011293042
Using a wide range of models we document a protracted fall in the natural (or neutral) rate of interest in advanced economies, driven by ageing, waning productivity growth, a rise in mark-ups, and a surge in risk aversion in the wake of the global financial crisis. While our neutral rate...
Persistent link: https://www.econbiz.de/10012893552
Persistent link: https://www.econbiz.de/10012018859
Using a wide range of models we document a protracted fall in the natural (or neutral) rate of interest in advanced economies, driven by ageing, waning productivity growth, a rise in mark-ups, and a surge in risk aversion in the wake of the global financial crisis. While our neutral rate...
Persistent link: https://www.econbiz.de/10011956811