S59-S75; and Garnier, J. and Wilhelmsen, B.R. (2009), “The natural rate of interest and the output gap in the euro area: a joint estimation”, Empirical Economics, Vol. 36, No 2, pp. 297-319. [11] Van den End, J.W. et al., ibid. [12] Brunnermeier, M. and Koby, Y. (2018), “  The Reversal Interest Rate”, NBER Working Papers, No 25406, National Bureau of Economic Research.
Comparing hours flown and number of flights, that would be as if we had 7,000 fatal airplane crashes in a typical year today, with hundreds of thousands dead. But we did not have 7,000 fatal crashes last year. We had five in the entire world. The year before we had eight.