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Fig. 4 | Swiss Journal of Economics and Statistics

Fig. 4

From: Nominal stability over two centuries

Fig. 4

Bond yields and real interest rates. The solid lines in the first and second panels show a spliced measure of government bond yields (maturity between 5 and 10 years). The dashed lines show the estimated permanent component (mean, 5th percentile, 95th percentile). The third and fourth panels show the implied ex-post real interest rate (mean, 5th percentile, 95th percentile). The shaded areas highlight changes in monetary regimes

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