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010   $a9781283514910
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010   $a9781451909067
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035   $a(SSID)ssj0000940828
035   $a(PQKBManifestationID)11598328
035   $a(PQKBTitleCode)TC0000940828
035   $a(PQKBWorkID)10955948
035   $a(PQKB)11727793
035   $a(OCoLC)698585693
035   $a(IMF)WPIEE2006112
035   $a(MiAaPQ)EBC3014407
035   $a(IMF)WPIEA2006112
035   $aWPIEA2006112
035   $a(EXLCZ)993360000000443664
100   $a20020129d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aFiscal Policy and Interest Rates : $eHow Sustainable Is The ?New Economy?? /$fManmohan Kumar, David Hauner
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (34 p.)
225 1 $aIMF Working Papers
300   $a"May 2006."
311 08$a9781451863727 
311 08$a1451863721 
320   $aIncludes bibliographical references.
327   $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""
330 3 $aThis paper explores the determinants of long-term government bond yields in the Group of Seven (G-7) economies and analyzes the factors that could explain the conundrum of very low rates in the face of a variety of adverse factors in recent years. In particular, the paper focuses on the deteriorating fiscal position in the G-7 economies and enquires which factors could have offset their impact on long-term interest rates, and how sustainable they are likely to be. A model of interest rate determination is elaborated and estimated for the G-7, with explicit emphasis on capital flows and public savings. The results suggest a high likelihood of a substantial impact of the weaker budgetary positions in the G-7 on global interest rates when the offsetting unprecedented capital flows slow down.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/112
606   $aInterest rates
606   $aFiscal policy
606   $aBanks and Banking$2imf
606   $aDebt Management$2imf
606   $aDebt$2imf
606   $aDebts, Public$2imf
606   $aDeflation$2imf
606   $aFinance$2imf
606   $aFiscal Policy$2imf
606   $aFiscal policy$2imf
606   $aGovernment debt management$2imf
606   $aInflation$2imf
606   $aInterest rates$2imf
606   $aInterest Rates: Determination, Term Structure, and Effects$2imf
606   $aLong term interest rates$2imf
606   $aMacroeconomics$2imf
606   $aPrice Level$2imf
606   $aPrices$2imf
606   $aPublic finance & taxation$2imf
606   $aPublic Finance$2imf
606   $aReal interest rates$2imf
606   $aSovereign Debt$2imf
607   $aUnited States$2imf
615  0$aInterest rates.
615  0$aFiscal policy.
615  7$aBanks and Banking
615  7$aDebt Management
615  7$aDebt
615  7$aDebts, Public
615  7$aDeflation
615  7$aFinance
615  7$aFiscal Policy
615  7$aFiscal policy
615  7$aGovernment debt management
615  7$aInflation
615  7$aInterest rates
615  7$aInterest Rates: Determination, Term Structure, and Effects
615  7$aLong term interest rates
615  7$aMacroeconomics
615  7$aPrice Level
615  7$aPrices
615  7$aPublic finance & taxation
615  7$aPublic Finance
615  7$aReal interest rates
615  7$aSovereign Debt
700   $aKumar$b Manmohan$01803826
701   $aHauner$b David$01815890
801  0$bDcWaIMF
906   $aBOOK
912   $a9910964633003321
996   $aFiscal Policy and Interest Rates$94371502
997   $aUNINA