Download This PaperGlobal Trends in Interest Rates
42 Pages Posted: 17 Sep 2018
There are 3 versions of this paper
Global Trends in Interest Rates
FRB of New York Staff Report No. 866
Number of pages: 67
Posted: 21 Sep 2018
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141
Global Trends in Interest Rates
FRB of Dallas Working Paper No. 1812
Number of pages: 68
Posted: 25 Oct 2018
Last Revised: 29 Apr 2020
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38
Date Written: September 2018
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.
Suggested Citation: Suggested Citation
Del Negro, Marco and Giannone, Domenico and Giannoni, Marc P. and Tambalotti, Andrea, Global Trends in Interest Rates (September 2018). NBER Working Paper No. w25039, Available at SSRN: https://ssrn.com/abstract=3250585
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