BIS paper looks at low returns on safe assets

Down arrow

New research published by the Bank for International Settlements investigates why investors are willing to tolerate low and declining returns on safe assets when the return on capital remains relatively high and stable.

Authors Magali Marx, Benoît Mojon and François Velde use an overlapping generations model to study several potential causes of falling long-term real rates: demography, trend productivity and risk.

In the working paper, they say declining labour force and productivity growth

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: