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Working Paper

The Expected Real Interest Rate in the Long Run : Time Series Evidence with the Effective Lower Bound


Abstract: In response to the global financial crisis, the Federal Open Market Committee lowered the target for the federal funds rate to a range of 0 to 25 basis points in December 2008, and maintained that target range until the end of 2015. Over that same period, longer-term interest rates in the United States were at historically low levels.

https://doi.org/10.17016/2380-7172.1703

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Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2016-02-09

Number: 2016-02-09