## Figure 2.2. Term Premiums in Economies with Normal versus Low Natural Rates

## Source details

**Canonical URL:** [Figure 2.2. Term Premiums in Economies with Normal versus Low Natural Rates](https://www.imf.org/-/media/files/publications/gfsr/2017/april/figure2-2d.csv)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2017/april/figure2-2d.csv.md)
- [Structured JSON version](/-/media/files/publications/gfsr/2017/april/figure2-2d.csv.json)

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### Dataset description
- Series: Term premiums measured across yields of various maturities.
- Two economies covered:
  - "1. Normal Economy (Percent)"
  - "2. Low-for-Long Economy (Percent)"
- Maturities reported: 0.25, 2, 5, 10 (years)
- Values reported as percentages.

### Key statistics (by term and economy)
- Normal Economy (Percent)
  - Term (years): 0.25 — Data: -0.0002
  - Term (years): 2 — Data: 0.18
  - Term (years): 5 — Data: 0.7179
  - Term (years): 10 — Data: 1.3048
- Low-for-Long Economy (Percent)
  - Term (years): 0.25 — Data: 0
  - Term (years): 2 — Data: 0.0454
  - Term (years): 5 — Data: 0.214
  - Term (years): 10 — Data: 0.4729

### Observations and implied contrasts
- Across all listed maturities, reported term premiums are higher in the "1. Normal Economy" series than in the "2. Low-for-Long Economy" series for the same term values.
- The largest absolute difference in reported Data between the two economies occurs at the 10-year term:
  - Normal Economy 10-year: 1.3048
  - Low-for-Long Economy 10-year: 0.4729

*Source: figure2-2d dataset (csv worksheet).*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/april/figure2-2d.csv_