Some key features in the historical dynamics of U.S. Treasury bond yields – a trend in long-term yields, business cycle …

This paper presents an equilibrium bond-pricing model that jointly explains the upward-sloping nominal and real yield …

stance of monetary/fiscal policy. Accounting for risk premia in the fiscal theory allows the government portfolio to affect … fiscal theory directly depend on the conditional nominal term premium, giving rise to an optimal debt maturity policy that is …

This paper tests several competing models of municipal bond market equilibrium. It analyzes the influence of changes in …

We investigate the synchronization of Eurozone's government bond yields at different maturities. For this purpose, we … combine principal component analysis with random matrix theory. We find that synchronization depends upon yields maturity … partially recover after 2015. We show the existence of a duality between our empirical results and portfolio theory and we point …