The Economist's 'Economics by invitation' asks: "Why are government bond yields rising?" Makin, Kotlikoff, Baldwin, Gallagher, and Koll provide answers.
Kotlikoff: "THERE is a limit to how much Germany and France are willing to bail out smaller EU members. And there is a limit to how much the US will bail out the EU. And there is a limit to how much China will bail out the US." Good stuff.
