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What Caused the Decline in Long-term Yields?

Authors :
BAUER, MICHAEL D.
RUDEBUSCH, GLENN D.
Source :
FRBSF Economic Letter. 7/8/2013, Vol. 2013 Issue 19, p1-5. 5p.
Publication Year :
2013

Abstract

The article focuses on the identification on the sources of the decline in the long-term bond yields of the U.S. It says that the bias-corrected estimates in the standard methods imply the attribution of the decline in long-term interest rates to lower risk compensation. It adds that the correction of the estimation bias is vital to understand the dynamics of interest rates.

Details

Language :
English
ISSN :
0890927X
Volume :
2013
Issue :
19
Database :
Academic Search Index
Journal :
FRBSF Economic Letter
Publication Type :
Periodical
Accession number :
89165437