Globalization, Market Power, and the Natural Interest Rate

Globalization, Market Power, and the Natural Interest Rate
We argue that strong globalization forces have been an important determinant of global real interest rates over the last five decades, as they have been key drivers of changes in the natural real interest rate—i.e. the interest rate consistent with output at its potential and constant inflation. An important implication of our analysis is that... READ MORE...

Publication date: May 2019
ISBN 9781498311410
$18.00

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