Byrne, Joseph P.; Fazio, Giorgio; Fiess, Norbert - Scottish Institute for Research in Economics (SIRE) - 2010
The disconnect between rising short and low long interest rates has been a distinctive feature of the 2000s. Both research and policy circles have argued that international forces, such as global monetary policy (e.g. Rogoff, 2006); international business cycles (e.g. Borio and Filardo, 2007);...