Why I Don’t Buy Demographic Interest Rate Stories — Brian Romanchuk

Summary:
There has been a couple of articles that have attracted attention recently in the area of interest rates. Matthew C. Klein offered a summary of them in “Inequality, Interest Rates, Aging, and the Role of Central Banks.” The first paper was by Adrien Auclert, Hannes Malmberg, Frédéric Martenet, and Matthew Rognlie, and the second by Atif Mian, Ludwig Straub, and Amir Sufi.I will point the reader who is interested in those articles to Klein’s piece on the basis that I have not yet read those papers. They are working within the mainstream tradition, and in my view. that tradition took a wrong turn a very long time ago.My view is straightforward....Bond EconomicsWhy I Don't Buy Demographic Interest Rate StoriesBrian Romanchuk

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