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150128 ||| eng |
| 020 |
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|a 9781463902209
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| 100 |
1 |
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|a Alper, Emre
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| 245 |
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0 |
|a Public Debt in Advanced Economies and its Spillover Effectson Long-Term Yields
|c Emre Alper, Lorenzo Forni
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2011
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| 300 |
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|a 23 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Interest rates
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| 653 |
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|a Public debt
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| 653 |
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|a Duration Analysis
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| 653 |
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|a Finance
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Government debt management
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| 653 |
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|a Financial services
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| 653 |
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|a Real interest rates
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| 653 |
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|a Debt Management
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| 653 |
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|a Debts, Public
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| 653 |
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|a Domestic debt
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| 653 |
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|a Debt
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| 653 |
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|a Sovereign Debt
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Public financial management (PFM)
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| 653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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| 653 |
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|a Long term interest rates
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| 653 |
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|a Public Finance
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| 653 |
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|a Fiscal Policies and Behavior of Economic Agents: General
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| 700 |
1 |
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|a Forni, Lorenzo
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
5 |
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|a 10.5089/9781463902209.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2011/210/001.2011.issue-210-en.xml?cid=25201-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a Several models establish a positive association between public debt ratios and long-term real yields, but the empirical evidence is not always conclusive. We reconsider this issue, focusing in particular on possible spillover effects of large advanced economies' debt levels to other economies' borrowing yields, especially in emerging markets. We extend the existing literature by using real time expectations of fiscal and other macroeconomic variables for a large sample of advanced and emerging economies. We show that an increase in the public debt levels of large advanced economies - especially the United States - spills over to both emerging markets and other advanced economies' long-term real yields and that this effect is significant at the current levels of advanced economies' debt ratios
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