The Mirage of Falling R-stars
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- Ales Bulir & Jan Vlcek, 2024. "The Mirage of Falling R-stars," Working Papers 2024/6, Czech National Bank.
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More about this item
Keywords
r-star; zero lower bound; equilibrium real appreciation; Penn effect; HLW framework; open-economy extension; ales Bulfr; Time-Invariant Estimates; HLW estimate; Real interest rates; Real exchange rates; Central bank policy rate; Exchange rates; Exchange rate adjustments; Global;All these keywords.
JEL classification:
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBA-2024-09-02 (Central Banking)
- NEP-FDG-2024-09-02 (Financial Development and Growth)
- NEP-MON-2024-09-02 (Monetary Economics)
- NEP-OPM-2024-09-02 (Open Economy Macroeconomics)
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