Should the U.S. Government Issue Floating Rate Notes?
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Since January 2014 the U.S. Treasury has been issuing floating rate notes (FRNs). We estimate that the U.S. FRNs have been paying excess interest between 5 and 39 basis points above the implied cost for other Treasury securities. We find a strong positive relation between our estimated excess
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美国国家经济研究局创建时间：
2020-04-01
