Cohen-Setton, Jérémie; Oikawa, Keita - In: The sustainability of Asia’s debt : problems, …, (pp. 66-86). 2022
Japan's debt level has reached unprecedented levels. And yet, its debt has never been so cheap. Such disconnect between debt levels and debt service costs illustrates how the decline in interest rates has made traditional metric for assessing fiscal sustainability obsolete. Interest rates could,...