Measuring the ''World'' Real Interest Rate
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.
You may purchase this paper on-line in .pdf format from SSRN.com ($5) for electronic delivery.
A data appendix is available at http://www.nber.org/data-appendix/w19887
This paper was revised on April 25, 2014
Document Object Identifier (DOI): 10.3386/w19887
Users who downloaded this paper also downloaded these: