“Measuring the ‘World’ Real Interest Rate,” NBER Working Paper Series 19887. Cambridge, Mass. : National Bureau of Economic Research, February, https://www.nber.org/papers/w19887.pdf. Mertens, Thomas M., and John C. Williams (2019). Monetary Policy Frameworks and the Effective Lower Bound on Interest Rates, Staff Report 877. New York: Federal Reserve Bank of New York, January, https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr877.pdf. Nessén, Marianne, and David Vestin (2005).
“Average Inflation Targeting,” Journal of Money, Credit and Banking, vol. 37 (October), pp. 837-63. Rachel, Lukasz, and Thomas D. Smith (2017). “Are Low Real Interest Rates Here to Stay?” International Journal of Central Banking, vol. 13 (September), pp. 1-42. Reifschneider, David, and John C. Williams (2000), “Three Lessons for Monetary Policy in a Low Inflation Era,” Journal of Money, Credit and Banking, vol.