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Geneva Reports on the World Economy

Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates

Interest rates are at historic lows in advanced nations around the world and markets expect them to stay low for years. Written by four world-renowned macroeconomists, the 17th CEPR-ICMB Geneva Report on the World Economy, Low for Long? Causes and Consequences of Persistently Low Interest Rates, suggests that real interest rates will eventually return to more normal levels, but in the meantime deflationary traps are more likely, as are financial boom-bust cycles.

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Bean, C, C Broda, T Ito and R Kroszner (eds) (2015), ‘Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates‘, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Summary‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Historical context‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Some key facts‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Introduction: Low for Long? Causes and Consequences of Persistently Low Interest Rates‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Summing up‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Risky versus safe assets and portfolio shifts‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘A lower propensity to invest‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘A higher propensity to save‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Why have (safe) real interest rates fallen?‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Demography‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Effects of low interest rates on the private sector‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Escaping the deflationary trap‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘From disinflation to deflation‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘A brief chronology‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Lessons from Japan‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

Citation

Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Concluding remarks‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

Citation

Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Prospects‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Financial markets and financial stability‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Monetary policy‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

Citation

Bean, C, C Broda, T Ito and R Kroszner (2015), ‘Policies and prospects‘, in Bean, C, C Broda, T Ito and R Kroszner (eds), Geneva 17: Low for Long? Causes and Consequences of Persistently Low Interest Rates, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-17-low-long-causes-and-consequences-persistently-low-interest

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