Arbeitspapier
Equilibrium real interest rates and secular stagnation: An empirical analysis for euro area member countries
Is secular stagnation a valid concern for Euro Area countries? We tackle this question using the well-established Laubach-Williams model to estimate the unobservable equilibrium real interest rate and compare it to the actual real rate. We apply our approach to twelve Euro Area countries, since heterogeneity among member countries has become considerably extensive since the beginning of the financial crisis. Hence, the question of secular stagnation has to be answered at the country level. Our results indicate that secular stagnation does not appear to be a significant threat to most Euro Area countries. But there is one exception: Greece.
- Sprache
-
Englisch
- ISBN
-
978-3-86788-723-6
- Erschienen in
-
Series: Ruhr Economic Papers ; No. 621
- Klassifikation
-
Wirtschaft
Interest Rates: Determination, Term Structure, and Effects
Macroeconomic Issues of Monetary Unions
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
- Thema
-
equilibrium real interest rate
secular stagnation
Euro Area countries
heterogeneity
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Belke, Ansgar
Klose, Jens
- Ereignis
-
Veröffentlichung
- (wer)
-
Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI)
- (wo)
-
Essen
- (wann)
-
2016
- DOI
-
doi:10.4419/86788723
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:24 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Belke, Ansgar
- Klose, Jens
- Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI)
Entstanden
- 2016
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