BoC paper on world real interest rates

Over the past 15 years, long-term interest rates have declined to levels not seen since the 1970s. The Bank of Canada Working Paper "World real interest rates: A global savings and investment perspective" explores possible shifts in global savings and investment that have led to this fall in the world real interest rate.

The paper presents several key findings. First, the authors identify the relative weakness in investment demand as more important than the relative increase in desired global

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