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November 3, 2015

Macro-economics of balance-sheet problems and the liquidity trap

Publication

Since 2010, nominal policy rates of central banks in most advanced economies have been close to zero. This is referred to as the zero lower bound on interest rates or as the liquidity trap.

June 5, 2015

Lessons learnt from seven years of stagnation in the Eurozone

Publication

Three lessons may be drawn from seven years of financial crisis.

February 24, 2014

Measuring too-big-to-fail funding advantages from small banks’ CDS spreads

Publication

Large banks derive a funding advantage from being too-big-to-fail, while small banks do not.

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June 6, 2012

When is debt sustainable?

Publication

This CPB Discussion Paper proposes indicators to assess government debt sustainability. Sustainable government finances can be achieved via three main channels: fiscal responses, economic growth and financial repression.

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