Fiscal Policy and Interest Rates--How Sustainable Is the New Economy?
| Author/creator | Kumar, Manmohan S. Author |
| Other author | Hauner, David Author |
| Format | Electronic |
| Publication Info | Washington : International Monetary Fund |
| Description | 42 p. |
| Supplemental Content | Full text available from Ebook Central - Academic Complete |
| Summary | Annotation 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. |
| Access restriction | Available only to authorized users. |
| Technical details | Mode of access: World Wide Web |
| Genre/form | Electronic books. |
| ISBN | 9781451909067 |
| ISBN | 1451909063 (E-Book) Active Record |
| Stock number | 00013468 |