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The Global Decline of the Natural Rate of Interest and Implications for Monetary Policy

Author

Listed:
  • Sungki Hong
  • Hannah Shell

Abstract

A low natural rate of interest in normal times may call for unconventional policy in recessions.

Suggested Citation

  • Sungki Hong & Hannah Shell, 2019. "The Global Decline of the Natural Rate of Interest and Implications for Monetary Policy," Economic Synopses, Federal Reserve Bank of St. Louis, issue 4, February.
    • Handle: RePEc:fip:fedles:87628
    DOI: 10.20955/es.2019.4
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    Citations

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    Cited by:

    1. Corbisiero, Giuseppe & Lawton, Neil, 2021. "The ECB’s Review of its Monetary Policy Strategy," Quarterly Bulletin Articles, Central Bank of Ireland, pages 70-103, October.
    2. Benigno, Pierpaolo & Canofari, Paolo & Di Bartolomeo, Giovanni & Messori, Marcello, 2023. "The ECB’s new inflation target from a short- and long-term perspective," Journal of Policy Modeling, Elsevier, vol. 45(2), pages 286-304.
    3. Czeczeli, Vivien, 2023. "Az államadósság fenntarthatósága alacsony kamatkörnyezetben [The sustainability of public debt in a low interest rate environment]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1361-1388.
    4. Pierpaolo Benigno & Paolo Canofari & Giovanni Di Bartolomeo & Marcello Messori, 2021. "The implementation and the rationale of the new inflation target of the ECB," Working Papers in Public Economics 205, Department of Economics and Law, Sapienza University of Rome.

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