06 November 2017 · https://bankunderground.co.uk/
Paul Schmelzing
![](https://bankunderground.files.wordpress.com/2017/11/trieste_palazzo.jpg?w=500&h=306)
Paul Schmelzing is a visiting scholar at the Bank from Harvard University, where he concentrates on 20th century financial history. In this guest post, he looks at how global real interest rates have evolved over the past 700 years.