NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Low Interest Rates and High Asset Prices: An Interpretation in Terms of Changing Popular Economic Models

Robert J. Shiller

NBER Working Paper No. 13558
Issued in October 2007

---- Acknowledgements -----

This paper was prepared for the "Celebration of BPEA" Conference, Brookings Institution, September 6 and 7, 2007. The author is indebted to Tyler Ibbotson-Sindelar for research assistance and to William Gale and Douglas Elmendorf for helpful comments. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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