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Natural and Neutral Real Interest Rates: Past and Future

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NBER2023-12-01 更新2025-01-04 收录
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Monetary theory posits a critical real rate of interest below which the monetary policy setting is inflationary and above which it is deflationary. For roughly a decade after the Great Financial Crisis (GFC), many economists linked deflationary pressures to the difficulty central banks encountered

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2023-12-01
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