Shadow rate
The shadow rate is an interest rate in some financial models. It is used to measure the economy when nominal interest rates come close to the zero lower bound. It was created by Fischer Black in his final paper, "Interest Rates as Options". There is also a shadow real rate. The shadow real short-term rate is equal to the shadow nominal short-term rate minus expected inflation.
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Shadow rate
The shadow rate is an interest rate in some financial models. It is used to measure the economy when nominal interest rates come close to the zero lower bound. It was created by Fischer Black in his final paper, "Interest Rates as Options". There is also a shadow real rate. The shadow real short-term rate is equal to the shadow nominal short-term rate minus expected inflation.
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The shadow rate is an interest ...... below zero in some instances.
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The shadow rate is an interest ...... rate minus expected inflation.
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Shadow rate
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