Government debt and long-term interest rates /

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Bibliographic Details
Author / Creator:Kinoshita, Noriaki, author.
Imprint:[Washington, D.C.] : International Monetary Fund, Fiscal Affairs Dept., 2006.
Description:1 online resource (23 pages)
Language:English
Series:IMF working paper, 2227-8885 ; WP/06/63
IMF working paper ; WP/06/63.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12498591
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Other authors / contributors:International Monetary Fund. Fiscal Affairs Department.
ISBN:1282558196
9781282558199
9781451908596
1451908598
Notes:Includes bibliographical references.
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper examines the relationship between government debt and long-term interest rates. A dynamic general equilibrium model that incorporates debt nonneutrality is specified and solved, and numerical simulations using the model are undertaken. In addition, empirical evidence using panel data for 19 industrial countries is examined. The estimation provides some evidence supporting the theoretical predictions: the paper finds that the simulated and estimated interest rate effects of government debt tend to be small. However, an increase in government consumption and debt leads to a considerably larger effect. The paper also argues that, although the interest rate effects of pure crowding out may be limited, the economic impact of accumulating government debt cannot be ignored.
Other form:Print version: Kinoshita, Noriaki. Government debt and long-term interest rates. [Washington, D.C.] : International Monetary Fund, Fiscal Affairs Dept., ©2006
Standard no.:10.5089/9781451908596.001

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588 0 |a Print version record. 
520 |a This paper examines the relationship between government debt and long-term interest rates. A dynamic general equilibrium model that incorporates debt nonneutrality is specified and solved, and numerical simulations using the model are undertaken. In addition, empirical evidence using panel data for 19 industrial countries is examined. The estimation provides some evidence supporting the theoretical predictions: the paper finds that the simulated and estimated interest rate effects of government debt tend to be small. However, an increase in government consumption and debt leads to a considerably larger effect. The paper also argues that, although the interest rate effects of pure crowding out may be limited, the economic impact of accumulating government debt cannot be ignored. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2010  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
505 0 |a "Contents"; "I. INTRODUCTION"; "II. AN OVERVIEW OF THE LITERATURE"; "III. THEORETICAL ANALYSIS"; "IV. EMPIRICAL EVIDENCE"; "V. CONCLUSION"; "References"; "DERIVATION OF DYNAMIC EQUILIBRIUM CONDITIONS"; "DATA SOURCES AND DEFINITIONS" 
650 0 |a Debts, Public  |x Econometric models. 
650 0 |a Interest rates  |x Econometric models. 
650 6 |a Dettes publiques  |x Modèles économétriques. 
650 6 |a Taux d'intérêt  |x Modèles économétriques. 
650 7 |a Debts, Public  |x Econometric models.  |2 fast  |0 (OCoLC)fst00888859 
650 7 |a Interest rates  |x Econometric models.  |2 fast  |0 (OCoLC)fst00976180 
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710 2 |a International Monetary Fund.  |b Fiscal Affairs Department. 
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