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dc.contributor.authorDesroches, Brigitteen_US
dc.contributor.authorFrancis, Michaelen_US
dc.date.accessioned2011-12-15T12:55:39Z-
dc.date.available2011-12-15T12:55:39Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/53774-
dc.description.abstractOver the past 15 years, long-term interest rates have declined to levels not seen since the 1970s. This paper explores possible shifts in global savings and investment that have led to this fall in the world real interest rate. There are several key findings. First, the authors identify the relative weakness in investment demand as more important than the relative increase in desired global savings to explain the decline in global interest rates. Second, the results indicate that the key factors explaining movements in savings and investment are variables that evolve relatively slowly over time, such as labour force growth and age structure. The conclusions suggest that over the coming years, world real interest rates are likely to continue to adjust slowly, reflecting longterm trends.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2007,16en_US
dc.subject.jelE2en_US
dc.subject.jelE4en_US
dc.subject.jelF3en_US
dc.subject.ddc330en_US
dc.subject.keywordInterest ratesen_US
dc.subject.keywordInternational topicsen_US
dc.subject.stwInvestitionen_US
dc.subject.stwSparenen_US
dc.subject.stwRealzinsen_US
dc.subject.stwErwerbspersonenpotenzialen_US
dc.subject.stwAltersstruktur der Bevölkerungen_US
dc.subject.stwWelten_US
dc.titleWorld real interest rates: A global savings and investment perspectiveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn52937420Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Working Papers

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