The Natural Real Interest Rate and Monetary Policy: A Review
Journal of Policy Modeling, 2004, 26, 5, 641-660
GIAMMARIOLI, Nicola, VALLA, Natacha, The Natural Real Interest Rate and Monetary Policy: A Review, Journal of Policy Modeling, 2004, 26, 5, 641-660 - https://hdl.handle.net/1814/16479
Retrieved from Cadmus, EUI Research Repository
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.
Cadmus permanent link: https://hdl.handle.net/1814/16479
Full-text via DOI: 10.1016/j.jpolmod.2004.01.007
Publisher: Elsevier Science Inc
Keyword(s): natural rate of interest monetary policy
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