This volume brings together a set of papers presented at the XXVII Annual Conference of the Central Bank of Chile, held in Santiago in November 2024. The conference examined one of the most consequential questions in contemporary macroeconomics: the evolution of medium- and long-run interest rates and the forces shaping their behavior. Its objective was to convene leading scholars working at the frontier of this field to assess both the historical trajectory of interest rates and the structural determinants that are likely to influence their future path.