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In recent years, term premia have been very low and sometimes even negative. Now, with the United States economy growing above potential, inflationary pressures

In recent years, term premia have been very low and sometimes even negative. Now, with the United States economy growing above potential, inflationary pressures

Linearized New Keynesian models and empirical no-arbitrage macro-finance models offer little insight regarding the implications of changes in bond term premiums