Work

Convenience Yield as a Driver of r*

Year: 2024

Type: article

Abstract: The natural rate of interest, or r*, corresponds to the short-term real interest rate that is consistent with full employment and price stability, after all temporary shocks have abated. The most popular framework to estimate r* is Laubach and Williams (2003) and Holston, Laubach, and Williams (2017, 2023) (henceforth HLW).

Source: FEDS Notes

DOI: 10.17016/2380-7172.3575

Authors: Balint Szoke, Ines Xavier, Francisco Vazquez-Grande

Institutions: Federal Reserve, Federal Reserve Board of Governors

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: hybrid

OpenAlex ID: W4402454534

FWCI:

Cites: 15

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Related to: 10