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010   $a9786613822338
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035   $a(PQKBTitleCode)TC0000941198
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035   $a(IMF)WPIEE2006063
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100   $a20060622d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aGovernment debt and long-term interest rates /$fprepared by Noriaki Kinoshita
205   $a1st ed.
210   $a[Washington, D.C.] $cInternational Monetary Fund, Fiscal Affairs Dept.$d2006
215   $a1 online resource (25 p.)
225 1 $aIMF working paper ;$vWP/06/63
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 paper ;$vWP/06/63.
606   $aDebts, Public$xEconometric models
606   $aInterest rates$xEconometric models
615  0$aDebts, Public$xEconometric models.
615  0$aInterest rates$xEconometric models.
700   $aKinoshita$b Noriaki$01604277
712 02$aInternational Monetary Fund.$bFiscal Affairs Dept.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910808805603321
996   $aGovernment Debt and Long-Term Interest Rates$93957435
997   $aUNINA