Term-Structure-Yield-Curve

Ralph S.J. Koijen · Motohiro Yogo

The paper develops an asset demand system to analyze, jointly and across all countries, how international portfolio holdings and flows, exchange rates, short-term rates, long-term yields, and equity …

Jens H. E. Christensen · Simon T. Hetland

The paper introduces the concept of “passive quantitative easing” (passive QE): a deliberate reduction in government debt issuance that lowers anticipated future bond supply and reduces …