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| Source: Macro-man blog |
1) But for negative rates, inflation would have been even lower
2) We're living in a Fisher effect world. Lower rates lower inflation. (Which is arguably a good, if unintended, thing)
Rabu, 21 September 2016
Negative rates and inflation
Have negative interest rates boosted inflation? Here is a nice graph (source macro-man blog, HT FT alphaville)
Not really. Explanations? Choose the chicken or the egg:
1) But for negative rates, inflation would have been even lower
2) We're living in a Fisher effect world. Lower rates lower inflation. (Which is arguably a good, if unintended, thing)
1) But for negative rates, inflation would have been even lower
2) We're living in a Fisher effect world. Lower rates lower inflation. (Which is arguably a good, if unintended, thing)
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