@article {Bomfim61, author = {Antulio N. Bomfim}, title = {Measuring Equilibrium Real Interest Rates}, volume = {11}, number = {3}, pages = {61--69}, year = {2001}, doi = {10.3905/jfi.2001.319306}, publisher = {Institutional Investor Journals Umbrella}, abstract = {What does the level of real interest rates tell us about where the economy, or our portfolio, is headed? The answer depends on one{\textquoteright}s estimate of the {\textquotedblleft}equilibrium{\textquotedblright} value of real interest rates, a measure that is not directly observable in the marketplace. This article provides a brief overview of some approaches to defining and measuring equilibrium real rates, and introduces a novel method based on yields on the U.S. Treasury{\textquoteright}s inflation-indexed securities (TIIS). A simple framework for analyzing TIIS yields illustrates how to use them to gauge the stance of monetary policy and overall economic prospects.}, issn = {1059-8596}, URL = {https://jfi.pm-research.com/content/11/3/61}, eprint = {https://jfi.pm-research.com/content/11/3/61.full.pdf}, journal = {The Journal of Fixed Income} }