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Fiscal policy and interest rates : how sustainable is the "new economy"? /

This paper explores the determinants of long-term government bond yields in the Group of Seven (G-7) economies and analyzes the factors that could explain the conundrum of very low rates in the face of a variety of adverse factors in recent years. In particular, the paper focuses on the deterioratin...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Hauner, David (Autor), Kumar, Manmohan S. (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, IMF Institute, 2006.
Colección:IMF working paper ; WP/06/112.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Hauner, David,  |e author. 
245 1 0 |a Fiscal policy and interest rates :  |b how sustainable is the "new economy"? /  |c prepared by David Hauner and Manmohan S. Kumar. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, IMF Institute,  |c 2006. 
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490 1 |a IMF working paper ;  |v WP/06/112 
504 |a Includes bibliographical references. 
520 |a This paper explores the determinants of long-term government bond yields in the Group of Seven (G-7) economies and analyzes the factors that could explain the conundrum of very low rates in the face of a variety of adverse factors in recent years. In particular, the paper focuses on the deteriorating fiscal position in the G-7 economies and enquires which factors could have offset their impact on long-term interest rates, and how sustainable they are likely to be. A model of interest rate determination is elaborated and estimated for the G-7, with explicit emphasis on capital flows and public savings. The results suggest a high likelihood of a substantial impact of the weaker budgetary positions in the G-7 on global interest rates when the offsetting unprecedented capital flows slow down. 
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533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
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588 0 |a Print version record. 
505 0 |a Contents -- I. INTRODUCTION -- II. LOW GLOBAL INTEREST RATES: POSSIBLE EXPLANATIONS -- III. A MODEL OF INTEREST RATE DETERMINATION -- IV. EMPIRICAL EVIDENCE -- A. Data and Methodology -- B. Empirical Results -- C.A New Economy of Interest Rates? -- V. CONCLUSIONS AND POLICY IMPLICATIONS -- REFERENCES 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Interest rates. 
650 0 |a Fiscal policy. 
650 6 |a Taux d'intérêt. 
650 6 |a Politique fiscale. 
650 7 |a Fiscal policy  |2 fast 
650 7 |a Interest rates  |2 fast 
700 1 |a Kumar, Manmohan S.,  |e author. 
776 0 8 |i Print version:  |a Hauner, David.  |t Fiscal policy and interest rates.  |d [Washington, D.C.] : International Monetary Fund, Fiscal Affairs Dept., 2006  |w (OCoLC)74114706 
830 0 |a IMF working paper ;  |v WP/06/112. 
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