by On Bank Underground, Paul Schmelzing looks at real interest rates over the last 700 years and finds that … the past 30-odd years more than hold their own in the ranks of historically significant rate depressions. But the trend fall seen over this period is a but a part of a much longer ”millennial trend”. It is thus unlikely that current dynamics can be fully rationalized in a “secular stagnation framework”.
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Dirk Niepelt considers the following as important: Economic history, Notes, Real interest rate
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On Bank Underground, Paul Schmelzing looks at real interest rates over the last 700 years and finds that
… the past 30-odd years more than hold their own in the ranks of historically significant rate depressions. But the trend fall seen over this period is a but a part of a much longer ”millennial trend”. It is thus unlikely that current dynamics can be fully rationalized in a “secular stagnation framework”.
