The Natural Real Interest Rate and Monetary Policy: A Review
Title: The Natural Real Interest Rate and Monetary Policy: A Review
Publisher: Elsevier Science Inc
Citation: Journal of Policy Modeling, 2004, 26, 5, 641-660
The level of real interest rates actually observed does not necessarily coincide with its natural level. This paper contrasts a number of approaches that have served to elaborate alternative concepts referred to as the natural, equilibrium or neutral real rate of interest. It highlights the relevance of those various concepts and angles for monetary policy decision making. (C) 2004 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.
Subject: natural rate of interest; monetary policy
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