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Emerging Market Economies and the World Interest Rate

Buyukkarabacak, Berrak - 2016

the 'world' interest rate, which we extract from a dynamic factor model of yields in industrialized countries. Our results … provide evidence that many emerging market yields respond to world rate shocks, at least gradually, which is broadly … consistent with capital market integration. Our findings also suggest that the world rate captures information about emerging …

Persistent link: https://www.econbiz.de/10013006225

The Malady of Low Global Interest Rates

Akram, Tanweer - 2015

Long-term interest rates in advanced economies have been low since the global financial crisis. However, in the United States the Federal Reserve could begin to hike its policy rate, the federal funds target rate, before the end of the year. In the United Kingdom, the Bank of England could...

Persistent link: https://www.econbiz.de/10013012857

Eight Centuries of Global Real Interest Rates, R-G, and the ‘Suprasecular’ Decline, 1311–2018

Schmelzing, Paul - 2019

With recourse to archival, printed primary, and secondary sources, this paper reconstructs global real interest rates on an annual basis going back to the 14th century, covering 78% of advanced economy GDP over time. I show that across successive monetary and fiscal regimes, and a variety of...

Persistent link: https://www.econbiz.de/10012859554

Real Interest Rates in Regional Economic Blocs

Lee, Jong-Eun - 2014

This paper investigates the long run relationship of real interest rates within a number of economic blocs such as Asia-Pacific, Europe, North America using cointegration analysis and vector error correction models

Persistent link: https://www.econbiz.de/10013048673

Measuring the ''World'' Real Interest Rate

King, Mervyn - 2014

have real rates fallen? This note computes a measure of the "world" real interest rate and, where possible, a measure of … the implied future real rate. It also makes public our estimates of the "world" real interest rate so they can be used by …

Persistent link: https://www.econbiz.de/10013059096

The Role of the Growth of Risk-Averse Wealth in the Decline of the Safe Real Interest Rate

Hall, Robert E. - 2016

Over the past few decades, worldwide real interest rates have trended downward. The real interest rate describes the terms of trade between risk-tolerant and risk-averse investors. Debt pays off equally across contingencies at a given future date, so debt is valuable to risk-averse investors to...

Persistent link: https://www.econbiz.de/10012993244

Low Real Rates as Driver of Secular Stagnation : Empirical Assessment

van den End, Jan Willem - 2014

We empirically test whether there is a causal link between the real interest rate and the natural rate of interest, which could be a harbinger of secular stagnation if the real rate declines. Outcomes of VAR models for Japan, Germany and the US show that a fall in the real rate indeed affects...

Persistent link: https://www.econbiz.de/10013045212

Does Openness Imply Greater Exposure?

Calder??n, C??sar; Loayza, Norman; Schmidt-Hebbel, Klaus - 2012

External exposure can be measured by the sensitivity of first and second moments of economic growth to openness and foreign shocks. This paper provides an empirical evaluation of external exposure using panel data methods for a worldwide sample of countries. Controlling for domestic conditions,...

Persistent link: https://www.econbiz.de/10012554189

How does COVID-19 affect r*?

Adolfsen, Jakob Feveile; Rasmussen, Thea Thalia Iuel; … - 2020

Persistent link: https://www.econbiz.de/10012513331

Understanding Swiss real interest rates in a financially globalized world

Bacchetta, Philippe; Benhima, Kenza; Renne, Jean-Paul - Schweiz / Staatssekretariat für Wirtschaft - 2021

Persistent link: https://www.econbiz.de/10012582713