Wealth Inequality, Labor Market Arrangements and the Secular Decline in the Real Interest Rate
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下载链接：
https://www.nber.org/papers/w34016
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资源简介：
We develop a dynamic macroeconomic model in which the secular decline in real interest rates arises endogenously from rising wealth inequality. Challenging the standard safe asset shortage hypothesis, the model shows how falling real rates can coexist with a stable safe asset ratioclosely matching U
提供机构：
美国国家经济研究局
创建时间：
2025-07-01
