Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/210718 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
Staff Report No. 866
Verlag: 
Federal Reserve Bank of New York, New York, NY
Zusammenfassung: 
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.
Schlagwörter: 
world interest rate
convenience yield
interest rate parity
VAR with common trends
JEL: 
E43
E44
F31
G12
Dokumentart: 
Working Paper

Datei(en):
Datei
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