Report
Two conundrums or paradoxes requiring further analysis
OECD economies today display two conundrums or paradoxes that need to be analysed: The conundrum of the fall in expected inflation at a time of expansionary monetary policy. Does this vindicate the neo-Fisherians, who believe the direction of causality runs from nominal interest rates to inflation? The conundrum of the gap between the return on capital and the real interest rate on government bonds. Why is there no longer convergence between the return on capital and the real interest rate? Does this mean that the corporate risk premium is now much higher?
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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