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010   $a1-4519-0859-8
010   $a9786613822338
035   $a(CKB)3360000000443268
035   $a(EBL)3014543
035   $a(SSID)ssj0000941198
035   $a(PQKBManifestationID)11547878
035   $a(PQKBTitleCode)TC0000941198
035   $a(PQKBWorkID)10963997
035   $a(PQKB)10358434
035   $a(OCoLC)694141248
035   $a(MiAaPQ)EBC3014543
035   $a(IMF)WPIEE2006063
035   $a(EXLCZ)993360000000443268
100   $a20020129d2006      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aGovernment Debt and Long-Term Interest Rates /$fNoriaki Kinoshita
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (25 p.)
225 1 $aIMF Working Papers
300   $a"March 2006."
311   $a1-4518-6323-3 
320   $aIncludes bibliographical references.
327   $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""
330 3 $aThis paper examines the relationship between government debt and long-term interest rates. A dynamic general equilibrium model that incorporates debt nonneutrality is specified and solved, and numerical simulations using the model are undertaken. In addition, empirical evidence using panel data for 19 industrial countries is examined. The estimation provides some evidence supporting the theoretical predictions: the paper finds that the simulated and estimated interest rate effects of government debt tend to be small. However, an increase in government consumption and debt leads to a considerably larger effect. The paper also argues that, although the interest rate effects of pure crowding out may be limited, the economic impact of accumulating government debt cannot be ignored.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/063
606   $aDebts, Public$xEconometric models
606   $aInterest rates$xEconometric models
606   $aBanks and Banking$2imf
606   $aMacroeconomics$2imf
606   $aPublic Finance$2imf
606   $aInterest Rates: Determination, Term Structure, and Effects$2imf
606   $aFiscal Policy$2imf
606   $aDebt$2imf
606   $aDebt Management$2imf
606   $aSovereign Debt$2imf
606   $aMacroeconomics: Consumption$2imf
606   $aSaving$2imf
606   $aWealth$2imf
606   $aPublic finance & taxation$2imf
606   $aFinance$2imf
606   $aPublic debt$2imf
606   $aReal interest rates$2imf
606   $aLong term interest rates$2imf
606   $aGovernment consumption$2imf
606   $aGovernment debt management$2imf
606   $aFinancial services$2imf
606   $aNational accounts$2imf
606   $aPublic financial management (PFM)$2imf
606   $aDebts, Public$2imf
606   $aInterest rates$2imf
606   $aConsumption$2imf
606   $aEconomics$2imf
607   $aUnited States$2imf
615  0$aDebts, Public$xEconometric models.
615  0$aInterest rates$xEconometric models.
615  7$aBanks and Banking
615  7$aMacroeconomics
615  7$aPublic Finance
615  7$aInterest Rates: Determination, Term Structure, and Effects
615  7$aFiscal Policy
615  7$aDebt
615  7$aDebt Management
615  7$aSovereign Debt
615  7$aMacroeconomics: Consumption
615  7$aSaving
615  7$aWealth
615  7$aPublic finance & taxation
615  7$aFinance
615  7$aPublic debt
615  7$aReal interest rates
615  7$aLong term interest rates
615  7$aGovernment consumption
615  7$aGovernment debt management
615  7$aFinancial services
615  7$aNational accounts
615  7$aPublic financial management (PFM)
615  7$aDebts, Public
615  7$aInterest rates
615  7$aConsumption
615  7$aEconomics
700   $aKinoshita$b Noriaki$01509568
712 02$aInternational Monetary Fund.$bFiscal Affairs Dept.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788517803321
996   $aGovernment Debt and Long-Term Interest Rates$93844929
997   $aUNINA