How Low Interest Rates Change the World

Jesper Rangvid is a Professor of Finance and the Director of the Pension Research Centre (PeRCent) at Copenhagen Business School. His research focuses on asset return determination and forecasting, financial crises, financial institutions, and household finance. Rangvid holds positions on various committees and boards of private and public firms. Notably, he led the government-appointed committee that investigated the causes and consequences of Denmark's 2008 financial crisis. His book, From Main Street to Wall Street, was published by Oxford University Press in 2021. Jesper also authors Rangvid's Blog, where he shares insights on finance and economics.

• List of Figures Introduction Part I. Falling Rates 1: The Level of Interest Rates: Today and Historically 2: Inflation and Real Interest Rates Part II. Consequences of Falling and Low Interest Rates 3: Debt and Low Interest Rates 4: House Prices and Low Interest Rates 5: Stock Markets and Low Interest Rates 6: Inequality and Low Interest Rates 7: Financial Risk-Taking and Low Interest Rates Part III. What Caused a Four-Decade Fall in Interest Rates? 8: What Caused a Four-Decade Fall in Inflation? 9: What Caused a Four-Decade Fall in Real Interest Rates? 10: What Caused the Rise in Inflation and Interest Rates after the Covid-19 Pandemic? Part IV. What Does the Future Hold? 11: Trends That Could Keep Rates Low 12: Trends That Could Elevate Rates 13: Putting It All Together: What Is the Outlook for Rates? 14: Debt, Inequality, and House and Stock Prices Considering Interest Rate Scenarios References Index

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