Two-factor real-nominal model; real factor correlation rho_real=0.6 with nominal
| source | BIS Working Paper on real-rate dynamics |
| derivation | expert_judgment |
| quality | estimated |
| set | 2026-05-25 |
| last reviewed | 2026-05-25 |
| next review due | 2026-12-31 |
Drives TIPS / breakeven projection; calibrated to FRED DFII series.