We document a rise and fall of the natural interest rate (r*) for several advanced economies,
which starts increasing in the 1960's and peaks around the end of the 1980's. We reach this …

It is often the case that when the stance of monetary policy is discussed in the news,
reference is made to the nominal policy rate and how much the central bank had changed …

This paper reviews South Africa's monetary policy since 2007 and makes recommendations
towards improving the inflation-targeting framework currently in place. Following a surge in …

This paper analyses the evolution of the monetary policy stance, communication and
credibility of the South African Reserve Bank (SARB) since 2000, when it adopted a flexible …

Over the last decade, fiscal dynamics have moved to the forefront of monetary policy
deliberations. Elevated country risk premia associated with rising government debt have …

This paper estimates the natural rate of interest (NRI) for Brazil between the third quarter of
1999 and the first quarter of 2018. The seminal model proposed by Laubach and Williams …

We estimate the natural interest rate in China. The natural interest rate averaged between 3
and 5 per cent between the late 1990s and 2010, but declined over the next decade to …

Систематизовано фактори нейтральної процентної ставки за принципом їх впливу на
попит чи пропозицію грошей в економіці. Узагальнено методи оцінки нейтральної …

The real equilibrium interest rate (r*) is a fundamental concept for monetary policy in inflation
targeting economies, since it is the real interest rate consistent with constant inflation, absent …

Conventional thinking around exchange rate pass-through to inflation generally applies a
rule-of-thumb measure, such that all exchange rate movements–be it appreciations or …