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Stargazing: Estimating r* in Other Countries, No. 24-10

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Stargazing: Estimating r* in Other Countries, No. 24-10

DATE: March 2024

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ABSTRACT:

We provide estimates of r* — a central concept in monetary policy — for a set of countries using the same methodology as for the Richmond Fed's own r* estimate for the U.S. We generally find that the estimated r* paths are country specific, but that they behave more similarly to each other than to the U.S., indicating its central role in the international monetary system.

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Federal Reserve Bank of Richmond. "Stargazing: Estimating r* in Other Countries, No. 24-10" in Economic Brief (March 2024). https://fraser.stlouisfed.org/title/6034/item/663300, accessed on January 26, 2025.

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