Rudebusch, Glenn D.; Swanson, Eric T.; Wu, Tao - In: Monetary and Economic Studies 24 (2006) S1, pp. 83-109
In 2004 and 2005, long-term interest rates remained remarkably low despite improving economic conditions and rising short- term interest rates, a situation that then-Federal Reserve Board Chairman Alan Greenspan dubbed a "conundrum." We document the extent and timing of this conundrum using two...
