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Based on two hundred years of annual data of the Netherlands, Germany, US and Japan we analyse the mean reversion of long-term interest rates, by unit root tests over rolling windows and taking into account structural breaks and regime changes. While short-term rates and the yield curve tend to revert to their long-term average value, long-term rates can persistently deviate from it. At the outside, we only find weak statistical evidence for mean reversion of long-term rates. Outcomes of smoothdoi:10.2139/ssrn.1950596 fatcat:5evbdolxyrhrxoo2zqo77gwhsy