Artículo de revistaThis article defines the natural interest rate, analysing the concept and its role in monetary policy conduct. Estimates of the natural interest rate place it at historically low and even negative levels. Demographics and growth, but also the recent financial crisis with weak aggregate demand, deleveraging, etc., are identified as factors related to this decline. Lastly, the article highlights the difficulties that a natural rate of this type may pose to central banks in achieving their objectives, and it discusses potential monetary policy-related solutions, such as QE and changes in the monetary policy objectiv
For the successful conduct of monetary policy the central bank needs reliable indicators of the mone...
The natural rate is an abstraction; like faith, it is seen by its works. One can only say that if th...
The monetary authorities of advanced economies have used the Wicksellian distinction between the nat...
Artículo de revistaThis article defines the natural interest rate, analysing the concept and its rol...
We provide a general equilibrium model with optimizing agents to compute the natural rate of interes...
Real interest rates in the euro area fluctuated sharply between —4.2% and +7.7% over the past half c...
Given the unobservable quality of the natural rate of interest, the consequences of central banks us...
The level of real interest rates actually observed does not necessarily coincide with its natural le...
Interest rate policy is one of the oldest and at the same time most controversial tools with which c...
Estimating the natural interest rate is fundamental for the proper definition of the stance of monet...
I illustrate a novel, and straighforward method to extract the natural rate of interest from the joi...
Differences in the natural interest rates across the countries of the Eurozone implies that the mone...
The topic for this paper is the so called neutral real interest rate. This is frequently defined as ...
open access articleThe rate of interest – the price of money – is said to be a key policy tool. Econ...
In this paper a semi-structural econometric model is implemented in order to estimate the natural ra...
For the successful conduct of monetary policy the central bank needs reliable indicators of the mone...
The natural rate is an abstraction; like faith, it is seen by its works. One can only say that if th...
The monetary authorities of advanced economies have used the Wicksellian distinction between the nat...
Artículo de revistaThis article defines the natural interest rate, analysing the concept and its rol...
We provide a general equilibrium model with optimizing agents to compute the natural rate of interes...
Real interest rates in the euro area fluctuated sharply between —4.2% and +7.7% over the past half c...
Given the unobservable quality of the natural rate of interest, the consequences of central banks us...
The level of real interest rates actually observed does not necessarily coincide with its natural le...
Interest rate policy is one of the oldest and at the same time most controversial tools with which c...
Estimating the natural interest rate is fundamental for the proper definition of the stance of monet...
I illustrate a novel, and straighforward method to extract the natural rate of interest from the joi...
Differences in the natural interest rates across the countries of the Eurozone implies that the mone...
The topic for this paper is the so called neutral real interest rate. This is frequently defined as ...
open access articleThe rate of interest – the price of money – is said to be a key policy tool. Econ...
In this paper a semi-structural econometric model is implemented in order to estimate the natural ra...
For the successful conduct of monetary policy the central bank needs reliable indicators of the mone...
The natural rate is an abstraction; like faith, it is seen by its works. One can only say that if th...
The monetary authorities of advanced economies have used the Wicksellian distinction between the nat...
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