This paper models the dynamics of long-term Chinese government bond (CGB) yields based on an autoregressive … distributive lag (ARDL) approach. It examines whether the current short-term interest rate has a decisive influence on long-term … CGB yields, after controlling for various macroeconomic variables. The estimated models all show that the current short-term …

Europe's demographic shift is putting increasing pressure on long-term care (LTC) systems and raising concerns about … the sustainability of LTC financing. This paper analyses Austria's LTC system, particularly its universal long-term care …

profitability channel." Using detailed banking data and term premium shocks identified via instrumental variables or event studies …, we show that a steeper yield curve-when driven by higher term premiums rather than higher expected short rates …-increases bank profits and loan supply. Intuitively, a higher term premium raises the expected returns from maturity transformation …