Globalization Market Power and the Natural Interest Rate is popular PDF and ePub book, written by Jean-Marc Natal in 2019-05-06, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Globalization Market Power and the Natural Interest Rate can be Read Online from any device for your convenience.
Globalization Market Power and the Natural Interest Rate Book PDF Summary
We argue that strong globalization forces have been an important determinant of global real interest rates over the last five decades, as they have been key drivers of changes in the natural real interest rate—i.e. the interest rate consistent with output at its potential and constant inflation. An important implication of our analysis is that increased competition in goods and labor market since the 1970s can help explain both the large increase in real interest rates up to the mid-1980s and—as globalization forces mature and may even go into reverse, leading to incrementally rising market power—its subsequent and protracted decline accompanied by lower inflation. The analysis has important implications for monetary policy and the optimal pace of normalization.
Detail Book of Globalization Market Power and the Natural Interest Rate PDF
- Author : Jean-Marc Natal
- Release : 06 May 2019
- Publisher : International Monetary Fund
- ISBN : 9781498314121
- Genre : Business & Economics
- Total Page : 25 pages
- Language : English
- PDF File Size : 8,7 Mb
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