Fiscal policy may affect the shape of the yield curve through the relative supply of bonds at various maturities that the government issues to fund deficits.
Unlike the impact of monetary policy, the impact of changes in the supply of securities on the yield curve is unclear.
The evidence seems to suggest that sufficiently large purchases/sales at different maturities will have only a temporary impact on yields.
As a result, the large government budget deficits forecasted by Hadpret are unlikely to have much of a lasting impact on the yield curve, especially given that private sector borrowing will be falling during the contraction, somewhat offsetting the increase in the supply of government securities.
这段话如何理解，麻烦老师解析一下？并且适用于什么题目
