Rents, Technical Change, and Risk Premia Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares
The secular decline in safe interest rates since the early 1980s has been the subject of considerable attention. In this short paper, we argue that it is important to consider the evolution of safe real rates in conjunction with three other first-order macroeconomic stylized facts: the relative cons...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
American Economic Association,
2018-02-20T20:02:54Z.
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| Subjects: | |
| Online Access: | Get fulltext |