Economics, Econometrics and Finance
4 years ago

Interest rates set to stay low as new normal emerges

Federal Reserve Bank of San Francisco, Working Paper Series
" A New Normal for Interest Rates? Evidence from Inflation-Indexed Debt"
Jens H. E. Christensen, Glenn D. Rudebusch

Paper Summary

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Interest rates in the U.S. have been going down for the past 20 years, possibly due to a decrease in the long-term interest rate. By studying inflation-indexed bonds, researchers found that the long-term real interest rate has dropped by about 2 percentage points and is not likely to increase quickly.