Fiscal policy and interest rates : how sustainable is the "new economy"? / prepared by David Hauner and Manmohan S. Kumar.
This paper explores the determinants of long-term government bond yields in the Group of Seven (G-7) economies and analyzes the factors that could explain the conundrum of very low rates in the face of a variety of adverse factors in recent years. In particular, the paper focuses on the deterioratin...
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