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Stargazing: Estimating r* in Other Countries

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Abstract

We provide estimates of r* — a central concept in monetary policy — for a set of countries using the same methodology as for the Richmond Fed's own r* estimate for the U.S. We generally find that the estimated r* paths are country specific, but that they behave more similarly to each other than to the U.S., indicating its central role in the international monetary system.

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  • Thomas A. Lubik & Brennan Merone & Nathan Robino, 2024. "Stargazing: Estimating r* in Other Countries," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 24(10), March.
    • Handle: RePEc:fip:fedreb:97953
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