Stargazing: Estimating r* in Other Countries

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.

Keywords: Natural real rate of interest; Canada; Eurozone; United Kingdom;

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Richmond Fed Economic Brief

Publication Date: 2024-03

Volume: 24

Issue: 10