BNPparibas: How high can they go? A longer-term perspective on long-term interest rates, with a focus on the US
9/9 09:30
“After a long decline of real long-term interest rates in advanced economies, the direction has changed in recent years. The prospect of rising private- and public-sector financing needs is raising concern that this movement is not over. Empirical research shows that the long-run dynamics of long-term interest rates are predominantly driven by economic growth, demographic […]...