(2018), “The natural rate of interest: estimates, drivers, and challenges to monetary policy”, Occasional Paper Series, No 217, ECB. [6] For a discussion of how the post-crisis shift in risk appetite and regulatory reforms has contributed to the increased preference for safe assets, see Lane, P. R. (2019), “Determinants of the real interest rate”, speech at the National Treasury Management Agency, Dublin, 28 November.
[7] See Ajevskis, V. (2018), “The Natural Rate of Interest: Information Derived from a Shadow Rate Model”, Working Paper Series, No 02, Latvijas Banka; Brand, C., Goy, G. and Lemke, W. (2020), “Natural Rate Chimera and Bond Pricing Reality”, DNB Working Paper Series, No 666, De Nederlandsche Bank; Brand, C. and Mazelis, F. (2019), “Taylor-rule consistent estimates of the natural rate of interest”, Working Paper Series, No 2257, ECB; Fiorentini, G., Galesi, A., Pérez-Quirós, G. and Sentana, E. (2018), “The Rise and Fall of the Natural Interest Rate”, Working Paper Series, No 1805, Center for Monetary and Financial Studies; Geiger, F. and Schupp, F. (2018), “With a Little Help from My Friends: Survey-Based Derivation of Euro Area Short Rate Expectations at the Effective Lower Bound”, Discussion Paper Series, No 27, Deutsche Bundesbank; Holston, K., Laubach, T. and Williams, J. C. (2017), “Measuring the Natural Rate of Interest: International Trends and Determinants”, Journal of International Economics, Vol.