NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Measuring the ''World'' Real Interest Rate

Mervyn King, David Low

NBER Working Paper No. 19887
Issued in February 2014
NBER Program(s):   AP   ME

Over the past couple of decades, and especially since the financial crisis in 2008-09, real interest rates have collapsed. For much of the past two years they have been negative, but they have been trending down for some while. But how far have real rates fallen? This note computes a measure of the “world” real interest rate and, where possible, a measure of the implied future real rate. It also makes public our estimates of the “world” real interest rate so they can be used by other researchers.

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An online appendix is available for this publication.

This paper was revised on April 25, 2014

Acknowledgments

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w19887

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