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Last Updated: 03/20/17

Economic Perspectives

Kei-Mu Yi and Jing Zhang

The authors explore trends in long-run real interest rates and their underlying factors for the 20 largest economies from the 1950s through the present day.

John McPartland and Rebecca Lewis

Article describes structures and incentives related to default waterfalls at central counterparties, which guarantee the performance of their clearing members’ financial contracts.

François Velde

Past examples of debt restructurings yield important insights into what is technically and politically feasible for governments facing financial crisis.

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