Arbeitspapier
Safe haven flows, natural interest rates and secular stagnation: Empirical evidence for euro area countries
This article introduces a new measure to capture safe haven flows for twelve Euro area countries. Since those flows are suspected to alter the natural rate of interest, which is at the heart of the discussion whether certain countries face a period of secular stagnation, we estimate the natural rate including those flows explicitly. It is shown that adding this measure indeed changes the estimated natural rate and thus the degree of evidence of secular stagnation in various countries. It is found that the natural rate tends to decrease in countries with safe haven inflows and increases in countries with safe haven outflows.
- Sprache
-
Englisch
- ISBN
-
978-3-86788-964-3
- Erschienen in
-
Series: Ruhr Economic Papers ; No. 831
- 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
-
safe haven
portfolio flows
natural interest rate
secular stagnation
Euro area member countries
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Belke, Ansgar
Klose, Jens
- Ereignis
-
Veröffentlichung
- (wer)
-
RWI - Leibniz-Institut für Wirtschaftsforschung
- (wo)
-
Essen
- (wann)
-
2019
- DOI
-
doi:10.4419/86788964
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
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
- RWI - Leibniz-Institut für Wirtschaftsforschung
Entstanden
- 2019
Ähnliche Objekte (12)
Equilibrium real interest rates and secular stagnation: An empirical analysis for euro-area member countries
Equilibrium real interest rates and secular stagnation: An empirical analysis for euro area member countries
Equilibrium real interest rates, secular stagnation, and the financial cycle: Empirical evidence for euro-area member countries
Equilibrium Real Interest Rates, Secular Stagnation, and the Financial Cycle: Empirical Evidence for Euro-Area Member Countries
Equilibrium real interest rates, secular stagnation, and the financial cycle: Empirical evidence for euro-area member countries
Towards a genuine economic and monetary Union-comments on a roadmap
Safe Haven Flows, Natural Interest Rates and Secular Stagnation - Empirical Evidence for Euro Area Countries
Secular stagnation
Secular stagnation
Central bank communication: Managing expectations through the monetary dialogue
Die Auswirkungen der Geldmenge und des Kreditvolumens auf die Immobilienpreise: ein ARDL-Ansatz für Deutschland
Financial Crisis, Global Liquidity and Monetary Exit Strategies
Equilibrium real interest rates and secular stagnation: An empirical analysis for euro-area member countries
Equilibrium real interest rates and secular stagnation: An empirical analysis for euro area member countries
Equilibrium real interest rates, secular stagnation, and the financial cycle: Empirical evidence for euro-area member countries
Equilibrium Real Interest Rates, Secular Stagnation, and the Financial Cycle: Empirical Evidence for Euro-Area Member Countries
Equilibrium real interest rates, secular stagnation, and the financial cycle: Empirical evidence for euro-area member countries
Towards a genuine economic and monetary Union-comments on a roadmap
Safe Haven Flows, Natural Interest Rates and Secular Stagnation - Empirical Evidence for Euro Area Countries
Secular stagnation
Secular stagnation
Central bank communication: Managing expectations through the monetary dialogue
Die Auswirkungen der Geldmenge und des Kreditvolumens auf die Immobilienpreise: ein ARDL-Ansatz für Deutschland
Financial Crisis, Global Liquidity and Monetary Exit Strategies
Equilibrium real interest rates and secular stagnation: An empirical analysis for euro-area member countries
Equilibrium real interest rates and secular stagnation: An empirical analysis for euro area member countries
Equilibrium real interest rates, secular stagnation, and the financial cycle: Empirical evidence for euro-area member countries
Equilibrium Real Interest Rates, Secular Stagnation, and the Financial Cycle: Empirical Evidence for Euro-Area Member Countries
Equilibrium real interest rates, secular stagnation, and the financial cycle: Empirical evidence for euro-area member countries
Towards a genuine economic and monetary Union-comments on a roadmap
Safe Haven Flows, Natural Interest Rates and Secular Stagnation - Empirical Evidence for Euro Area Countries
Secular stagnation
Secular stagnation
Central bank communication: Managing expectations through the monetary dialogue
Die Auswirkungen der Geldmenge und des Kreditvolumens auf die Immobilienpreise: ein ARDL-Ansatz für Deutschland