Maturity Composition of Government Debt and the Macroeconomy: Empirical Effects KU Leuven
The recent macroeconomic crisis (the Great Recession) has rendered traditional macroeconomic policy largely powerless. Central banks around the world have dramatically reduced their policy interest rates to the bare minimum. Fiscal authorities have been reluctant to pursue overly expansive policies, for a range of reasons. In response, central banks have turned towards an alternative means to achieve higher growth and inflation closer to ...