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29.03.2023 - Comments

Demographics and interest rate turnaround

by Sven Ebert

In the early 2000s, influential economists predicted falling interest rates. Reason: The aging of society. There was talk of a savings glut and underconsumption. The consequence would be negative real interest rates. Central banks followed the theory and set their key interest rates at historic lows. Today, we are struggling with inflation, which, according to this theory, should not exist.

This comment is available in German only.

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