Blar i Arbeidsnotater / Working Papers på forfatter "Garnier, Julien"
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The Natural Real Interest Rate and the Output Gap in the Euro Area: A Joint Estimation
Garnier, Julien; Wilhelmsen, Bjørn-Roger (Working Papers;14/2005, Working paper, 2005)The notion of a natural real rate of interest, due to Wicksell (1936), is widely used in current central bank research. The idea is that there exists a level at which the real interest rate would be compatible with output ...