MEASURING THE WORLD NATURAL RATE OF INTEREST
نویسندگان
چکیده
منابع مشابه
Measuring the Natural Rate of Interest
A key variable for the conduct of monetary policy is the natural rate of interest – the real interest rate consistent with output equaling potential and stable inflation. Economic theory implies that the natural rate of interest varies over time and depends on the trend growth rate of output. In this paper we apply the Kalman filter to jointly estimate the natural rate of interest, potential ou...
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ژورنال
عنوان ژورنال: Economic Inquiry
سال: 2017
ISSN: 0095-2583
DOI: 10.1111/ecin.12500