Jeremy Stein of Harvard University, a discussant of Mr Greenspan's Brookings paper, points out that low policy rates may have mattered a great deal for income-constrained borrowers.

哈佛大学的杰里米·斯坦(Jeremy Stein)——格林斯潘此篇论文的讨论者之一——指出，低水平的央行利率对低收入的借款人而言可能关系重大。

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The subject is a recent speech by Fed Governor Jeremy Stein.

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In early February, Federal Reserve Governor Jeremy Stein said "we are seeing a fairly significant pattern of reaching-for-yield behavior, " or investors buying riskier debt with higher yields.

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In order to test the theory they analyzed whether their data fit the predictions of a well-known theoretical model of short-termism developed by Harvard economics professor Jeremy Stein, who was recently named to the Board of Governors of the Federal Reserve System.

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