If investors were able to substitute Treasuries with comparable bonds from other countries the effect should have ended there.
假设投资者可以用其他国家的国库券来代替本国的债券那么收益率的影响也不会发生。
You should be able to substitute any one of these frameworks in your application and get the same effect.
你也可以在你的应用程序中替换这些框架中的任何一种而得到同样的效果。
The first, analyze the family saving income effect and substitute effect.
第一，分析对家庭储蓄的收入效应和替代效应。
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