Global Trends in Interest Rates

Marco Del Negro, Andrea Tambalotti, Domenico Giannone and Marc Giannoni

No 77, 2019 Meeting Papers from Society for Economic Dynamics

Abstract: 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.

Date: 2019
New Economics Papers: this item is included in nep-mon and nep-opm
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Related works:
Journal Article: Global trends in interest rates (2019)
Working Paper: Global Trends in Interest Rates (2019)
Chapter: Global Trends in Interest Rates (2018)
Working Paper: Global Trends in Interest Rates (2018)
Working Paper: Global trends in interest rates (2018)
Working Paper: Global Trends in Interest Rates (2018)
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