Excess Savings Has Lowered Global Equilibrium Real Interest Rates: GSMani
An increase in the global propensity to save relative to the propensity to invest has lowered global equilibrium real interest rates over the past 25 years, notes Goldman Sachs.
Kevin Daly and team at Goldman Sachs in their “Global Economics Weekly” research report dated September 30, 2015 point out that global equity yields have risen significantly since 2000.
Real interest rates - Falling long-term real bond yields since mid-1980s
Daly and team recall the remarks of Ben Bernanke (2005) that an . . .
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