This paper investigates recent trends of production factor - including both capital and labour - ratios in the EU-27 based on national accounts data. These output elasticities are typically expected to be constant, however, both theoretically and empirically, these assumptions are frequently...

Using a novel macro-finance model we infer jointly the equilibrium real interest rate r*t, trend inflation, interest rate expectations, and bond risk premia for the United States. In the model r*t plays a dual macro-finance role: as the benchmark real interest rate that closes the output gap and...