Secular Drivers of the Natural Rate of Interest in the United States : A Quantitative Evaluation /
We develop a heterogeneous agent, overlapping generations model with nonhomothetic preferences that nests several explanations for the decline in the natural rate of interest (r*) suggested in the literature: demographic change, a slowdown in productivity growth, a rise in income inequality, and pub...
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| 格式: | 杂志 |
| 语言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2022.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2022/030 |
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| 在线阅读: | Full text available on IMF |