Global trends in interest rates
By Marco del Negro, Domenico Giannone, Marc P. Giannoni, Andrea Tambalotti. Journal of International Economics, 2018
216 citations recorded by the source corpus.
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 converged over this period. It was driven by an increase in the convenience yield for safety and liquidity and by lower global economic growth.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/33965c1d54017def843416fceefcfb84c7a8ffe0
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
In Finance
Citations in the corpus
- East-Side Story: Historical Pollution and Persistent Neighborhood Sorting (2016, unknown): “…to a yearly probability to be able to relocate of 7%; the 10-year discount rate b corresponds to a yearly discount rate of 0.993 (col. 1). to be around 0.7%, is in the low range of risk-free rates observed over the past 50 years (in spite of a recent drop in such rates; Del Negro et al. 2019).”
- On Secular Stagnation in the Industrialized World (2019, methodology): “This could be because of finite lives coupled with a less-than-perfect bequest motive, as in the seminal models of Peter Diamond (1965) and Olivier Blanchard (1985), or perhaps due to the time-dependent preferences and myopic behavior pioneered by David Laibson (1997).”