However, compelling arguments have been made regarding efficiencies created by housing the entire financial supervisory apparatus under one roof. In the case of developing countries, a central consideration is the structure and character of the government itself.
There are a host of factors that could lead the neutral rate to remain depressed in the longer run--ranging from the low level of world real interest rates, which affects the United States via the exchange rate and financial market channels, to slow-moving secular trends in the labor force and productivity, to persistent changes in risk perceptions stemming from the crisis.