The Role of the Growth of Risk-Averse Wealth in the Decline of the Safe Real Interest Rate
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https://www.nber.org/papers/w22196
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资源简介：
Over the past few decades, worldwide real interest rates have trended downward. The real interest rate describes the terms of trade between risk-tolerant and risk-averse investors. Debt pays off equally across contingencies at a given future date, so debt is valuable to risk-averse investors to
提供机构：
美国国家经济研究局
创建时间：
2016-05-01
