The New "Normal" for Interest Rates in Canada: The Implications of Long-Term Shifts in Global Saving and Investment
AbstractHow far and how fast Canada’s record-low interest rates will rise in the coming years is a vital question for consumers and businesses. In “The New “Normal” for Interest Rates in Canada: The Implications of Long-Term Shifts in Global Saving and Investment,” authors Paul Beaudry and Philippe Bergevin find that the normal or “neutral” rate is likely lower than its historical average, and likely will remain at relatively lower levels over the next decade.
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Bibliographic InfoPaper provided by C.D. Howe Institute in its series e-briefs with number 156.
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Publication status: Published on the C.D. Howe Institute website, May 2013
Find related papers by JEL classification:
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
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- Brigitte Desroches & Michael Francis, 2006. "Global Savings, Investment, and World Real Interest Rates," Bank of Canada Review, Bank of Canada, vol. 2006(Winter), pages 3-17.
- David Laidler, 2011. "Natural Hazards: Some Pitfalls on the Path to a Neutral Interest Rate," C.D. Howe Institute Backgrounder, C.D. Howe Institute, issue 140, July.
- Guonan Ma & Wang Yi, 2010.
"China’s High Saving Rate: Myth and Reality,"
CEPII research center, issue 122, pages 5-40.
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