Publications

Policy Note 2023/3 | July 2023

In Defense of Low Interest Rates

In recalling John Maynard Keynes’s revolutionary theory of interest, reviewing the doctrines Keynes sought to overthrow, and analyzing the structural transformations of the US economy, James K. Galbraith maintains there is no alternative to a policy of low interest rates. However, such a policy cannot be effective, he argues, without a radical restructuring of the US economy as a whole.

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Working Paper No. 1044
Empirical Models of Chinese Government Bond Yields
Author(s): Tanweer Akram, Shahida Pervin
February 2024

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