Fiscal Policy and Interest Rates : How Sustainable is the "New Economy"? /
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| Author / Creator: | Kumar, Manmohan S. |
|---|---|
| Imprint: | Washington, D.C. : International Monetary Fund, 2006. |
| Description: | 1 online resource (34 pages). |
| Language: | English |
| Series: | IMF Working Papers, 2227-8885 ; Working Paper No. 06/112 IMF Working Papers ; Working Paper no. 06/112. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12508012 |
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| 100 | 1 | |a Kumar, Manmohan S. | |
| 245 | 1 | 0 | |a Fiscal Policy and Interest Rates : |b How Sustainable is the "New Economy"? / |c Kumar, Manmohan S. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c 2006. | ||
| 300 | |a 1 online resource (34 pages). | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Papers, |x 2227-8885 ; |v Working Paper No. 06/112 | |
| 500 | |a Available in PDF, ePUB, and Mobi formats on the Internet. | ||
| 520 | 3 | |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. | |
| 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" | |
| 650 | 0 | |a Interest rates. |0 http://id.loc.gov/authorities/subjects/sh85067247 | |
| 650 | 0 | |a Fiscal policy. |0 http://id.loc.gov/authorities/subjects/sh85048601 | |
| 650 | 6 | |a Taux d'intérêt. | |
| 650 | 6 | |a Politique fiscale. | |
| 650 | 7 | |a Fiscal policy. |2 fast |0 (OCoLC)fst00925806 | |
| 650 | 7 | |a Interest rates. |2 fast |0 (OCoLC)fst00976178 | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Hauner, David. | |
| 700 | 1 | |a Kumar, Manmohan S. | |
| 710 | 2 | |a International Monetary Fund. |0 http://id.loc.gov/authorities/names/n81052755 | |
| 830 | 0 | |a IMF Working Papers ; |v Working Paper no. 06/112. | |
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