"Regarding long-term real rates
theory tells us that these should be related to potential GDP growth."
"comparing an estimate of potential growth from the Congressional Budget Office
with our twenty-year real rate backcast"
" with the exception of the mid-1970s they track closely "
good fit ?
maybe after the Volcker dammerung
forget the mid 70's
notice the entire pre 83 interval
when reality gets interesting
pin head technicians " synthetic devices " flop on their noses
