The natural rate of interest after the pandemic
Coronavirus
The natural rate of interest is key to understanding where interest rates may be heading in the medium run. This column reviews the evidence regarding natural rate dynamics after the COVID-19 pandemic. In both advanced and emerging market economies, estimates of the natural rate have edged up. This increase could be attributed to changes in the balance between saving and investing and a possible shift to a more inflationary environment, requiring a tighter monetary policy stance than in the
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